When it comes to financing your college education, you’ll likely be offered federal and private loans as part of your financial aid package. So, what’s the difference? Federal student loans are funded by the federal government, while private loans are provided by another lender – such as a bank, credit union, state agency or school. Typically, federal loans will give you more benefits and flexibility – so consider these first.
Here are 11 important advantages federal student loans have over private loans:
