Private student loans are far less regulated

Private student loans are far less regulated, but they often come with a much higher interest rate. They are offered by private banks and are often used to supplement educational expenses not covered by federal student loans. There are two basic types of private student loans: variable rate and fixed rate.Big Boss vote

Federal student loans are the most common, preferred method used to pay for a college education.

Federal student loans are the most common, preferred method used to pay for a college education. They are offered by the U.S. Government and come with distinct advantages, but also with restrictive guidelines. There are several different types of federal loans that are available to specific types of students in certain situations.

We will give a brief rundown of each type of federal student loan below, but for now, here are the basic types:

Direct Subsidized Loans
Direct Unsubsidized Loans (undergraduate)
Direct Unsubsidized Loans (graduate)
Direct PLUS Loans
Perkins Loans

For those of you who already have student loans,

For those of you who already have student loans, some of this information may be redundant. However, it’s important to understand the different types of student loans, as certain methods of repayment only apply to specific types of loans. We will only touch on the basics in this guide; read this article for an in-depth look at student loans.

This guide will cover everything from the basics of student loans,

This guide will cover everything from the basics of student loans, to how to avoid defaulting on your loan. We will go into depth on the subject of Income-Driven Repayment Plans (including a student-loan calculator that will help you compare them) and discuss how and when to consolidate or refinance your loans. After identifying two great strategies that will help you quickly pay off your student loans (if you have the ability to pay a little extra every month), we will talk about the in’s and out’s of all the available student loan forgiveness programs, including teacher and military forgiveness. We will finish off by discussing deferment, forbearance, and how to resolve any disputes that might arise.

That much-sought after next phase after graduation could be expensive

That much-sought after next phase after graduation could be expensive. You’re next goals may be marriage, purchasing a car, or buying a home. These can be great options if that’s what you want and can afford. However, if you’re already dealing with overwhelming student loans, going deeper into debt for these isn’t the best move. The average wedding cost is $30,000 and much higher if you live in a large city or have expensive taste. Opt for a less traditional, cheaper wedding or wait until you can afford the wedding of your dreams.￿