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What are the different types of student loans? What are the advantages/disadvantages of each type of student loan?

April 26, 2017advantages different disadvantages student loan student loans type types

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What are the different types of student loans? What are the advantages/disadvantages of each type of student loan?

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Both students and parents can apply for student loans. The loan option for students is the Federal Stafford Loan. With this loan students have a grace period while they are in college and do not have to start paying back the loan until they graduate. The loan option for parents is the PLUS Loan. This loan allows parents to borrow to help their student pay for college, but they must start making payments on the loan immediately with no grace period.