What are Federal Student Loans?

Federal student loans are loans issued by the government to those seeking financial assistance for higher education costs. Federal student loans must be repaid in full.

Is a Student Loan Right For Me?

Federal student loans are a great way for students to get financial help for college. Student loans have a lower interest rate than consumer loans, and they offer extremely flexible terms. Generally, students do not have to begin repaying the loan until after they graduate.

Different Loans for Different Needs


The Federal Family Education Loan Program (FFELP) includes three major types of low-cost loans for students and parents.

  • Federal Stafford - With this popular federal loan program, the borrower does not have to pay loan interest until six months after he or she graduates.
  • Federal Perkins - This student loan gives priority to those with the most financial need. A Perkins loan is like a Stafford loan, except it has fewer fees and more flexible terms. The borrower does not have to begin repaying the loan until nine months after graduation.
  • Federal Parent PLUS - With this loan, parents borrow money on behalf of their dependent child. Loan repayment begins as soon as the money is awarded to the borrower. Parents of independent children cannot receive a Federal Parent PLUS loan.


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