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Understanding US Student Loan Types

With US Student Loans, the most popular revolve around Federal Student Loan programs, which is often the best option for most students to get through college. When you add up all your expenses like tuition, accommodation, books, travel, and entertainment (you have to live as well) you need all the help you can get. Here is an overview all all the different types of US student Loans on Offer to you - you may even want to get more then one loan at a time - but be careful not to over extend.


There are several types of US Student Loans - Federally Funded Loans, Private US Student Loans, Student Consolidation Loans and International Student Loans. The Federal loans are a lot more flexible and have much better terms (lower interest rate) but private student loans are also worth looking at as with some, you can defer payment until you finish your studies - a very useful option.


Federal Student Loans


These loans are available as part of a government loan program and will generally have the best loan terms from a student's point of view:


Federal Stafford Loans
Federal Perkins Loans
Federal Parent PLUS Loans
Federal Graduate PLUS Loans


Private Student Loans


These types of loans are offered by private loan companies and are usually not a flexible as federal loan options.


Community College Loan
Continuing Educational Loan
Career Training Loan
Signature Student Loan
Tuition Answer Loan


Student Consolidation Loans


Student Loan Consolidation could save you money and are especially suitable if you're already paying back Student Loans or are on a grace period. These type of loans refinances multiple loans into one new loan, with a new repayment amount, interest rate and term.


Consolidation Federal Student Loans
Consolidation Private Student Loan


International Student Loans


For those pursuing College and University outside of the US then these type of loans are for you.


The type of US student loan you decide on will very much depend on your specific circumstances. Each type has its merits and drawbacks, but remember that you should be able to find a student loan that meets your requirements exactly.


To find out where to apply for US student loans, visit http://www.american-studentloan.com/


Source: www.articledashboard.com