FFELP student loans are federally backed student loans originally funded by private lenders. The FFEL Program ended in 2010, but you may still be repaying them.
Federal student loans are the most common type of student loan. There are four main types of federal student loans: subsidized, unsubsidized, parent loans, and consolidation loans. There are also private student loans, which generally have higher interest rates and stricter requirements. What Is t...
With news of President Joe Biden’s student loan forgiveness plan, in which up to $20,000 of student federal loan debt may be forgiven, many likely have questions about eligibility. The president announced Wednesday that $10,000 in federal student loans would be forgiven for borrowers, and...
The U.S. Department of Education offers students several federal loan options to help pay for college. These loans are designed specifically for students.
Don't wait until the last minute to apply.Learn more about private student loans now! What exactly is the difference between private and federal student loans? Here's what to know. How are federal and private loans different? Federal student loans generally have more favorable terms. They offe...
Student loans allow you to borrow money to cover college and school-related expenses. Browse Investopedia’s expert written library to learn more.
Private student loansare offered by private lenders, and they don't have set interest rates and loan fees like federal loans do. Private student loan rates are dependent on a borrower's credit score and debt-to-income ratio, as well as the loan amount and repayment term. Because the intere...
No government deferment or forbearance.While some private student loans havestudent relief optionsif you’re having trouble making payments, these programs are not nearly as robust as what federal loans offer. Federal vs. private student loans ...
Federal and private student loans typically have a grace period of at least six months where you are not yet required to make payments. The grace period automatically kicks in when a student drops below half-time enrollment, like when you are graduating or taking a semester off. ...
Federal student loans are generally disbursed directly to the school between 10 to 30 days after classes start. When it comes to private student loans, disbursement generally takes place at the beginning of the school term, but this may vary by lender and could depend on when you apply and ...