Federal Student Loans

The Free Application for Federal Student Aid (FAFSA) must be completed in order to be considered for federal student loans, which are provided by the Department of Education. Due to lower interest rates and friendlier repayment perks including income-driven repayment plans and forgiveness programs, federal student loans should always be examined before taking out private student loans. Check out this video to learn about federal grants, loans, and work-study jobs and how they can help fund your education.

https://studentaid.gov/understand-aid/types 

Banks, credit unions, and online lenders provide private student loans. You can often borrow up to the full cost of attendance with these loans. Unlike to federal student loans, you cannot determine your eligibility for all private student loans with a single application. Each lender establishes its own eligibility standards, which often include minimum requirements for credit and income. Always consider if your post-graduation budget will enable you to repay your student loans before deciding to utilize them for your education, regardless of whether you borrow from the government or a commercial lender.