Choose Federal or Private Student Loans
Once you’ve minimized how much you borrow, it is important to keep in mind that there are two main types of student loans: those supported by the federal government and those issued by banks and other private lenders. In almost all cases, federal loans are the best deal for student borrowers.
“The federal loans are cheaper, they fixed [interest] rate versus variable rate and are more readily available” than private student loans, said Mark Kantrowitz, publisher of FinAid, a Web site that allows follow the industry funding of colleges. Read the rest of this entry »
