This section is dedicated to answering your questions and helping you compare loan programs.
Federal programs are the largest source of education loans.
Loans available under federal programs have very attractive terms when compared to most other borrowing options-lower interest rates, the possibility of having interest subsidized by the federal government while the borrower is in school, the ability to postpone making payments, longer repayment terms, and less stringent credit requirements. Private loans are designed to supplement federal loan programs and are available from schools, banks, and education loan organizations. Private loans are also known as alternative loans and the terms often vary considerably based on the lender and borrower credit histories. Other possible loan sources include home equity loans, lines of credit, and retirement plans.