Educational Loans

Educational loans play a very important role to make higher education accessible, covering costs that scholarships and grants may not fully cover. This guide provides vital information to assist students and families in navigating through the complexities of educational loans and making well-informed financial choices. What are Educational Loans? Educational loans are monies borrowed to pay for school-related expenses. They come in various forms – federal loans, private loans, state-specific loans. Each type has its own terms, interest rates and repayment options. Types of Educational Loans Federal Student Loans: Direct Subsidized Loans: For undergraduate students with financial need; Government pays the interest while the student is in school; Direct Unsubsidized Loans: Available to both undergraduate and graduate students; Interest accrues during all periods; Direct PLUS Loans: For graduate students and parents of undergraduates; Credit-based with higher interest rates; Perkins Lo...