| Higher education is expensive. Just about anyone | | | | offer student loans. You should know as you do your |
| who has applied for college lately can attest to that | | | | research that Federal law sets the maximum interest |
| fact. The depressing news is that costs for all forms | | | | rates and fees that lenders may charge for |
| of higher education will continue to rise, and these | | | | federally-guaranteed loans. Lenders may, of course, |
| costs will affect many individuals as they consider | | | | charge lower fees as well. Most of the better lenders |
| whether or not they can afford to go to school. | | | | offer a variety of student loan discounts and |
| These increasing costs makes finding the best | | | | packages to attract student borrowers. |
| student loan programs imperative for many would-be | | | | The Federal education loan programs that are |
| students as well as for those who are already | | | | available offer lower interest rates and several |
| enrolled. | | | | repayment options. More often than not, they offer |
| A student loan is simply a form of financial aid to help | | | | more options for the student than most consumer |
| pay for the costs of attending a college or university. | | | | loans, which make them a good way to finance an |
| This money must be repaid (with interest) which is | | | | education. These Federal loans are usually a good |
| why it is a loan and not a grant or a scholarship. | | | | place to begin your search for student loan |
| Grants and scholarships usually do not have to be | | | | possibilities. |
| repaid. | | | | Depending on your circumstances, it is good to keep |
| There are three main types of student loans: Private | | | | in mind that you may need more than one loan to |
| student loans which are also known as alternative | | | | cover the costs of attending school. For this reason, |
| student loans; parent loans such as the PLUS student | | | | it is important to make sure that you get the best |
| loan programs, and then there are the more | | | | student loan terms and interest rates as you begin to |
| traditional and well known student loans such as the | | | | sign on to various programs. Most schools have an |
| Stafford and Perkins loans. | | | | on-campus financial advisor who can help you narrow |
| These are the primary types of student loans, but | | | | down your options. More and more schools are |
| there is one other off-shoot type of loan that is | | | | beginning to use online advisors as well, which can |
| commonly known as a student consolidation loan. This | | | | make your research easier. |
| type of loan takes place after a student has | | | | There are many online resources for information on |
| received his or her primary loans. The consolidation | | | | the best student loan programs available. You should |
| loan simply bundles all (or some) of the primary loans | | | | set aside a period of time to review those sites and |
| into one loan with one monthly payment. | | | | visit the lenders who meet your needs. It is a good |
| One of the most effective ways to find the best | | | | idea to avoid signing up with any lender until after |
| student loan programs that fit you needs is to do | | | | you have completed all of your research. |
| some online research. There are many agencies that | | | | |