Loan Options

It’s not uncommon today for many students and parents to turn to student loans as a way to fund a college education. If you have been considering student loans; however, you probably know there are many different loan options. Which one is right for you? Studentloans.info can help you sort through all of the confusion and locate the loan that will suit your unique situation and needs.

With the wide number of student loans options available today there is no reason that your dream of attaining a college education cannot become a reality. Consider these student loan options today:

Federal Stafford Loan

The Federal Family Education Loan Program provides the opportunity for several types of student loans including the Subsidized Stafford, Federal PLUS loan (parent loan), Unsubsidized Stafford loan and Federal Loan for Graduate and Professional Students (GradPLUS).

Subsidized Stafford Loan

With this type of loan eligibility is based on need. The interest rate is fixed and while you are in school at least half time and during your 6 month grace period the government pays the interest on the loan. Six months after graduating, leaving school or dropping below half-time enrollment, regular monthly loan payments are required to begin.

Unsubsidized Stafford Loan

With this type of loan eligibility is not based on need. Funds are made available to all eligible students regardless of their income level. Interest rates are fixed. Students are responsible for interest from the time the loan is made. Regular monthly loan payments are begun six months after borrower graduates, leaves school or drops below half-time enrollment.

Federal PLUS Loan

This loan is made available to parents to help meet the cost of children’s college education. Parents of full or half-time dependent undergraduate students are eligible. Parents may borrow up to the full cost of their child’s education including tuition, room and board, books and supplies, transportation and living expenses, minus any other financial aid received.

GradPLUS Loan

Available to graduate students. Provides benefits such as a fixed interest rate and the ability to borrow up to the cost of education minus other aid received.

Private Student Loans

Private student loans work to bridge the gap between actual education costs and the maximum loan amounts provided by traditional federal student loans.

Student Loan Consolidation

Allows borrowers to refinance their student loans by combining several monthly payments into one single payment. Monthly payments and interest rates may be lower.

Not sure which loan is right for your situation? Les us at Studentloans.info help you get started by connecting you with the right lenders for your individual needs.