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Which best describes the difference between a federal student loan and a private student loan?
The basic difference between federal and private student loans is that federal student loans are offered by the government, while private student loans are offered by a private-sector lender. These two types of loans offer very different benefits, interest rates, and repayment options.
Which of the following is an advantage of a federal student loan compared to private loan?
Benefits of Federal Student Loans
fixed interest rates for the life of the loan. repayment assistance options (including income-based-repayment)
What are two advantages of federal student loans over private loans?
No credit history needed..
No co-signer needed..
Fixed interest rates..
Lower interest rates than private loans..
Interest accrual may begin after college..
Forbearance and deferment options..
A repayment grace period..
Income-driven repayment options..
What are three advantages to federal student loans over private loans?
Top 11 advantages of taking out federal student loans before private.
They have a fixed interest rate..
You won't need a co-signer..
You'll have the opportunity to consolidate..
There is no prepayment penalty..