Government and Federal Student Loan Programs offer Student Loans Without a Cosigner

If you are considering entering college in the nearstudent loans is the Perkins loan. It comes with a low
future you should be aware of the many differentinterest rate of only 5% and is awarded to both
types of government and federal student loans. Whileundergraduate and graduate students. There are no
many colleges do offer free student loan scholarshipsorigination fees charged for this loan and it is paid back
and there are various types of need-based financialto the school because loan funds are issued directly
aid and grants available; loans still make up the majorfrom the school to the student from monies provided
portion of funding for the cost of education for mostby the government. Take a look at the following facts
college students. Private student loans are alsoregarding the Perkins Loan:
available; however the advantages of federal student- Need based loan; only those students with exception
loans usually far outweigh any benefits of privatefinancial need will qualify
student loans; if you qualify to receive them.- Able to borrow up to $4,000 for each year of
Private college loans are credit based and may involveundergraduate study and $6,000 for each year of
a co-signer from the students parent. You must qualifygraduate study.
to receive a private student loan even though the loan- Loan limits are $20,000 for two years of
program features are quite attractive. The Nationalundergraduate study and $40,000 for graduate school.
Student Loan Center or the NSLC offers manyFFELP (Federal Family Education Loan Program)
private low cost low rate college student loanThis is also another common loan and features both
programs. The NSLC also offers private as well assubsidized and unsubsidized student loans. The
government student loans. An especially attractivedifference between the two is that the government
student loan program offered by the NSLC, is thewill pay for the interest of the student loan while the
NSLC PLUS loan program; which gives parents ofstudent is in school and during the grace period of a
students the option to borrow up to 100% of theirsubsidized student loan while the student is responsible
child's cost of education. This is nice because the costfor the interest in an unsubsidized student loan.
of higher education institutions is blasting through theAdditionally, students must display a financial need to
roof every year! Armed with this type of higherqualify for a subsidized student loan while the
education financing, a college student can fundunsubsidized student loan is non need based.
everthing from room and board to books and justFederal Parent Loan for Undergraduate Students
have to concentrate on studies.(PLUS)
Government and federal student loans allow collegeThis type of student loan is available to parents and
loans without a cosigner. They are non credit basedguardians of dependent undergraduate students.
student loans. Credit is not even looked at underBorrowers do not need to demonstrate financial need
federal college loan programs for students. Their willand may borrow up to the cost of attendance; minus
always be a student loan lien on the students creditany amount of financial aid that may be received. Loan
until the college loan is finally paid.funds are first applied to tuition and fees. This type of
Perkins Loangovernment and federal student loan has a variable
One of the most common government and federalinterest rate.