1. Subsidized Stafford Loan
2. Unsubsidized Stafford Loan
3. Federal Perkins Loan
4. Federal PLUS loan for parents
5. Direct PLUS loans
6. Federal consolidation loan
7. Federal Nursing Loan
8. Federal Insured Student Loan
9. Health Professions Student Loans
10. Private 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.
For more in-debt information on the 10 best
student loan options, and many other student loan topics please
visit http://www.student-loan-today.com.
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