Federal Student Loans vs. Private Student Loans
Federal and private student loans have different characteristics depending on academic level: undergraduate or graduate. These tables list the differences for Perkins Loans, Direct Loans, PLUS Loans, and private student loans.
How Student Loans Work
Like other loans, student loans must be repaid over time, usually with interest. Most borrowers end up repaying much more than the original loan amount.
How to Compare Student Loan Costs
To minimize the total amount of payments over the life of the loan, it is critical to compare student loans carefully. Advertisements don't always make comparisons on an equal basis.
How to Choose the Best Student Loans
Different types of federal and private student loans offer different costs and benefits. Students and parents can minimize costs by following these recommendations when choosing loans.