FinAid - Loan Types

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about College and other Academic topics.

Where do I get money for college?

FinAid - Loan Types

Usually, grants and scholarships can't 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.

Source: Finaid.org

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Academic Tip Site? Request a Tip Now!


Guru Spotlight
Heidi Splete