College and University Blog
What You Should Know About Student Loans
When your savings, grants, and scholarships don’t cover the cost of attending college, student loans can make up the difference. There are a couple of different kinds of loans: federal loans, private loans, and consolidation loans.
Federal student loans are the largest source of educational loans. You can get these loans through private financial institutions. There are three types of federal student loans:
- Stafford Loans are fixed-rate, low interest loans available to undergraduate students attending accredited schools at least half time.
- Perkins Loans are a low interest loan for undergraduate and graduate students with
- Parent PLUS Loans are a low interest student loan for parents of undergraduate, dependent students.
The terms of student loans available under federal programs are very attractive when compared to most borrowing options