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Why are federal student loans a better option than private loans?

April 26, 2017Federal Loans option private student loans

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Why are federal student loans a better option than private loans?

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Federal student loans offer low fixed interest rates, income-based repayment plans, loan forgiveness and deferment options, including deferment of loan payments when a student returns to school. For these reasons, students and parents should always exhaust federal student loan options before considering a private loan.