Borrowing has become a standard for many students and parents and often a necessary college financing option. A college education is certainly a worthwhile investment and helps many pursue their dreams. A federal student loan or federal parent loan often times is regarded as a feasible college funding option. Regardless of which federal loan program, please be sure to borrow wisely by understanding the terms of any loans, including the interest rate and loan fees and repayments options. Be sure to only borrow what you absolutely need!
Federal loans are borrowed funds that must be repaid along with interest. A federal student loan allows students to borrow money to help pay for college through programs supported by the federal government. The Federal PLUS Loan allows parents to borrow to cover college costs of dependent children. Specific federal student and parent loan program details follow in the following related articles below:
For a GLOSSARY of helpful financial aid related terms, please see that section of our website.