Type of Educational Loans Available
Paying for your education is a significant financial commitment and investment. Before
taking out student loans, make sure that you exhaust all other types of funding such
as scholarships and grants. Once these options are exhausted, you may still have a
gap in funding for which student loans may fill.
A concept of a loan is straight forward: money is borrowed which needs to be repaid. However, it is important to understand all the terms, conditions, and language that is associated with your loans. A deeper understanding of your loans will result in healthy and smarter loan borrowing.
Federal Direct Loans
Federal Direct loans are low interest loans offered by the Department of Education for students to help pay educational costs.
Federal PLUS Loans
Biological or adoptive parents of dependent students may apply for additional loans to assist you with educational costs.
Other items associated with student loans: