financial first steps

Looking at Student Loans

Whether you’re already employed or you’re still looking, you need to learn as much as possible about your student loans. The more you know, the better chance you’ll have to manage them effectively and take advantage of crucial repayment options. In general, what types of student loans are there?

1. Public and private loans
2. University and municipal loans
3. Community and college loans

“A” is correct. Public loans are those where the government is either the lender or guarantor of funds. Federal loans, such as the Stafford, PLUS, and Perkins are all public loans. Private loans are those provided by a commercial entity, such as a bank. Do you know what types of student loans you have?