There are several different options available for students
regarding student loans; however, the following are the 10
Best Student Loan Options:
1. Subsidized Stafford Loan
2. Unsubsidized Stafford
3. Federal Perkins Loan
4. Federal PLUS loan for
5. Direct PLUS loans
6. Federal consolidation
7. Federal Nursing Loan
8. Federal Insured Student
9. Health Professions Student Loans
Let's take a closer look at more information regarding the 10
best student loan options:
1) The Subsidized Stafford Loan is available for both graduate
and undergraduate study. While the student is in school, the
interest on the loan is paid by the federal government. This
loan is need based, so not all applicants may qualify.
2) The Unsubsidized Stafford Loan is also available for
graduate and undergraduate study. Unlike the Subsidized Stafford
Loan, with this loan the student is responsible for the interest
that is accrued on the loan while they are in school. This is
not a needs based loan, so students may be eligible for the loan
even if they do not show a financial need for the loan.
3) The Federal Perkins loan is a type of student loan that is
available to both graduate and undergraduate students.
Applicants must demonstrate financial need in order to qualify
for this loan. Funds are disbursed by the school and must be
repaid to the school.
4) The PLUS loan program gives parents of students the option to
borrow up to 100% of their child's cost of education. Parents
are eligible for this loan even if they do not demonstrate a
financial need and regardless of income.
5) Direct PLUS loan: this type of student loan is available to
parents and guardians of dependent undergraduate students.
Borrowers do not need to demonstrate financial need and may
borrow up to the cost of attendance; minus any amount of
financial aid that may be received. Loan funds are first applied
to tuition and fees. This type of government and federal student
loan has a variable interest rate.
6) The federal consolidation loan program gives students and
their parents the option to consolidate loans and take advantage
of lower interest rates and monthly payments.
7) The federal nursing loan gives students who are enrolled in
nursing school the option of a low interest loan and flexible
repayment options. Loan cancellation is available in some cases.
8) The Federal Insured Student Loan program gives students who
might not otherwise qualify for a student loan the ability to
receive the funds they need to complete their education.
9) The Health Professions Student Loan provides long-term, low
interest loans to students pursuing degrees in dentistry,
optometry, pharmacy, veterinary medicine or podiatry.
10) Private student loans require a credit check for borrowers;
however, students and their families are typically able to
borrow more money than they would have been able to through a
federal student loan.
Student Loan Today offers guidance and direction to help
students with their best student loan options. Knowing
up-to-date facts about student loans is the first step for
college bound people. Learn more by visiting
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