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Article:
Federal Student Loans versus Private Student Loans '“ which is best for me? by: Vanessa McHooley Federal Student Loans versus Private Student Loans '“ which is best for me? You have gotten all the grants and scholarships you can, but you still need money for your education. It's time to look at loans. But which is better '“ federal loans or private loans? Federal loans If you need to take out a loan to help pay for your education, you should always look at federal loans first. The largest source of education loans around, federal loans are long-term loans with low interest rates designed for students who need money for their educations. They have several benefits when compared to other borrowing options, including Lower interest rates Options to postpone payments Longer repayment terms Easier credit requirements Eligibility for some of these loans, such as the Federal Perkins Loan and the Subsidized Federal Stafford Loan, are needs-based, while others are not. You will need to complete a FAFSA to apply for these loans. The most common federal student loans are listed below: Federal Perkins Loan The Federal Perkins Loan is a low-interest loan available to students who have exceptional financial need, based on the information provided on their FAFSA. Undergraduates can borrow up to $'4
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