Nowadays, most college students borrow money. Approximately 65% of 2019 graduates took out loans, per US News. Compare student loan terms. 13 advantages of fds loans

Federal student loans do not require a credit history. A FAFSA is necessary to apply for a federal student loan. Federal student loans are easier to qualify for, say experts

#1 No credit history needed

Student loans from the federal government do not require a co-signer. Without a cosigner, most students can't get a private student loan. Can be a high-credit student with a job

#2 No co-signer needed

The interest rates on federal student loans are fixed. APR for private loans Experts say borrowers are protected against huge hikes in monthly payments if interest rates climb.

#3 Fixed interest rates

Those rates go up to 2.75 percent on July 1, 2020. As a result, they charge more. Consumers are safer, says a LendingTree consultant.

#4 Lower interest rates than private loans

Interest-free federal student loans for full-time students. Interest of student protected Private lenders rarely grant interest-free student loans.

#5 Interest accrual may begin after college

A deferral allows a student to All FEMA loans. The federal student loan delay is three years, says Josuweit. The US DOE subsidizes loan interest.

#6 Forbearance and deferment options

In some cases, federal student debts must be repaid at graduation or drop below half- It's six months after college. Graduation attracts. The DOE pays low-interest loans.

#7 A repayment grace period

Borrowers of federal student loans have many options. There are four income-based repayment options. Pay As You Earn plans cap payments at 10% of discretionary income

#8 Income-driven repayment options

Payment dates for federal loans are extended. After 90 days, federal student loans become overdue. Private student loans defaulted 9 months.

#9 Takes longer to default

Pay off federal student loans. The feds, says Josuweit, assist consolidate. It's difficult to refinance loans without losing money.

#10 Consolidation available with poor credit

Death cancels the loan and the government pays it. Experts claim a few private lenders are offering this insurance. The borrower must be incapacitated to be pardoned.

#11 Loans can be discharged

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