Nowadays, the cost of higher education is getting more and more expensive. Some families may not be able to afford to send their son or daughter for further education. Getting a student loan will help.
There are 2 broad categories of student loans available. Government student loans and private student loans
Government or federal student loans are funded and administered by the US Department Of Education. It is classified under Federal Student Loans Aid Program. They have very few requirements other than you are studying in a US college or university. International students may also apply though approval is on a case by case basis.
Every year, the student loan aid program disburse nearly 60 billion dollars so it is a good choice for get a student loan from the government. Thus the interest rates are pretty low.
Private student loans are funded and administered by banks and other financial institutions. These lenders provide student loans at a higher interest rate compared to federal student loans. Some common student loans available are from Citibank and Sallie Mae
You are allowed to apply for both private and federal student loans for your...
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