There are a few different protections that federal loans offer compared to private student loan options. For example, income-based repayment and even forgiveness of your debt can be had by taking out these types of funds at an affordable price tag! That being said, there are still lots in terms of what style you want- from softer credit requirements to less stringent underwriting standards (which means potentially higher rates). Other benefits such as: AutoPay benefits to lower APR Cost of attendance Borrowing limits Origination fees & Grace Periods