Student Loans

Understand federal and private options, repayment plans, and consolidation strategies.

Overview

Federal loans offer standardized protections including income-driven repayment and potential forgiveness programs when eligible. Private loans vary by lender and underwriting.

Federal Programs

  • Subsidized and unsubsidized loans
  • Income-driven repayment plans
  • Public service forgiveness eligibility criteria

Private Loans

  • Credit-based underwriting and co-signer options
  • Variable and fixed-rate structures
  • Refinancing considerations post-graduation

Application Steps

  1. Complete aid forms and review federal offers
  2. Compare private offers if needed
  3. Select repayment plan and set autopay
Payment Calculator

Comparisons

Evaluate protections and costs across options

Federal vs Private
FeatureFederalPrivate
Income-Driven PlansAvailableVaries
Forgiveness ProgramsEligibleNot typical
UnderwritingStandardizedCredit-based
Refinancing

Refinancing can lower costs for strong credit profiles but may forfeit federal protections. Assess trade-offs carefully.

Frequently Asked Questions

Clear answers to common student loan questions

Do payments change over time?

Fixed-rate plans keep payments constant; variable-rate loans can change with market rates. Income-driven plans adjust with earnings.

Can I pause payments?

For federal loans, deferment and forbearance options may be available based on eligibility. Private options vary by lender.

Should I consolidate?

Consolidation can simplify payments but may affect terms and benefits. Compare new rates and protections before proceeding.

What if I can't afford payments?

Review income-driven plans for federal loans or contact lenders for alternative arrangements. Act early to avoid delinquency.