Are some student loans better than others?
Yes. Not all student loans are equal. Some online graduate schools offer government-backed Stafford student loans. Research your options to find an online university that participates in the special government Distance Education Demonstration program. Government-backed Stafford student loans typically carry the lowest interest rate. Interest rates on Stafford student loans are variable, set in July of each year. In 2003, Stafford student loans carried the lowest interest rate in two decades: 3.42%. To find out if you might be eligible for a government-backed Stafford student loan consult the annual free Student Guide to Financial Aid, http://studentaid.ed.gov/students/publications/student_guide/index.html or call 800-4-FED-AID for a copy of the Guide. Not all distance-learning graduate programs participate in the federal governments student loan program. Some offer only private student loans only. There is a difference.
By:Steve Morin At times it becomes difficult to finance education from your own pocket or via scholarships. For that purpose you must go for student loans. There could be many choices of getting a student loan, depending upon your status and type of education. So, you should check all options available and to choose the best one. Student loans are of three main types: Federal student loans Private student loans Consolidation student loans Federal loans are the main source for educational loans. Private financial institutes provide these loans. They are better than private loans, due to their assurance from government and their lowest interest rate. Credit scores are not accountable for this so almost all students can apply for them before going for any other loan. You can make delay payments, flexible credit requirements and they have longer refund terms. Federal loan is further divided in three major types. i.e. Federal Stafford loans Federal Perkins loans Federal Parent PLUS loans Fe
