OLOL College

Why are federal student loans a better option for paying for college?

Why are federal student loans a better option for paying for college?


Federal student loans offer borrowers many benefits not typically found in private loans. These include lower interest rates, income-based repayment plans, and loan forgiveness and deferment options, including deferment of loan payments when a student returns to school. For these reasons, students and parentsshould always exhaust federal student loan options before considering a private loan.