Federal vs. Private Student Loans #debt #studentloans  #debtfree #creditscore #explained
Channel: CreditAssociates
Date: 2023-09-28

Federal vs. Private Student Loans
 
Understanding the differences between federal and private student loans, their benefits, limitations, and repayment options allows you to make choices that align with your financial goals. Here are some key differences. The government provides free applications for Federal Student Aid, or FAFSA, and offers benefits such as fixed interest rates, flexible repayment options, and potential loan forgiveness programs. Banks, credit unions, and online lenders provide privatized student loans. They may have variable interest rates, require a credit check, and not offer the same borrower protections as federal loans.
 
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