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Q: What types of student loans are there?
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FinAid - Loan Types
Usually, grants and scholarships canīt cover all the schooling fees. A loan is a form of financial aid that must be repaid, with interest. (Scholarships, on the other hand, do not have to be repaid.) Your main loan options are:
* Student Loans (also called Stafford and Perkins Loans) * Parent Loans (also called PLUS) * Private Loans (also called Alternative) * Loan Consolidation
The Federal education loan programs offer lower interest rates and more flexible repayment plans than most consumer loans, making them an attractive way to finance your eduction.
