College Student Loans Guide

As the cost of college continues to rise, parents and students naturally have questions regarding financing sources, such as college student loans. There are four main types of college student loans.

Types of College Student Loans

• Federal student loans
• Parent student loans
• Private student loans
• Other student loans

Federal College Student Loans

Federal student loans are issued through the Department of Education as a type of self-help financial aid. These loans are commonly known as Stafford loans and are issued directly to students. After you graduate, or leave school, the loans must be repaid with interest. The amount of money you can borrow with this type of loans typically depends on whether you are an undergraduate or graduate student. Federal college students loans can be either subsidized or unsubsidized. With a subsidized loan, the government will pay the interest while you are in school. You are responsible for the interest while you are in school with an unsubsidized student loan, although you can elect whether you want to make interest payments on the loan during that time or defer it until after graduation. Advantages of federal college student loans include:

• Lower interest rate
• No credit check

Not sure whether you might be eligible for federal college student loans? Let us check for you. The process is simple and quick.