Key Differences Between Federal and Private Student Loans
If you are considering financing any part of your college journey with student loans, a starting point in the process is understanding the different loans available to you.
There are two main sources of student loans, federal loans and private loans. There are advantages and disadvantages to both. And, facing skyrocketing college costs, many families will utilize both sources to cover their funding gap.
Before taking the leap into loans, whether as an undergraduate or graduate student or as a parent, it’s important to understand all of your options (including using less debt) before you sign on the dotted line.
Here is an overview of the primary differences between federal and private loans.
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