| Which College Loan is Right for You | | | | A private student loan may be required to add funding |
| Many young college students are under tremendous | | | | when other types of financial aid are not enough to |
| pressure trying to figure out how they are going to | | | | cover the student's costs. Private student loans are |
| pay the high costs of college tuition.Visit Here | | | | credit based. They are unsecured, which means they |
| Often times, their parents are equally concerned about | | | | require no collateral, but they have very high interest |
| where the money will come from for their child's | | | | rates. Private college loans can be used for anything, |
| education expenses. If you're a worried student or | | | | not just tuition costs. |
| have a college bound child and have exhausted the | | | | Parent college loans are another type of college loan |
| financial aid and scholarship avenues, your only solution | | | | to consider. A parent college loan is a loan the parents |
| is a college loan. There are several kinds of college | | | | can take for the full amount of the college tuition. This |
| loans available, but which college loan is right for you? | | | | loan can span the tuition costs for all of the years the |
| The first type of college loan is a federal student loan. | | | | student will be attending college. This loan is convenient |
| This loan is either subsidized or unsubsidized. | | | | because it will be the only loan needed for the duration |
| Subsidized college loans are when the government | | | | of your college years. The interest rates are much |
| pays the interest of the loan for the student for the | | | | lower on parent student loans. |
| time they are in school, but the student must show a | | | | The last type of loan is the college consolidation loan. |
| great financial need to get this type of loan. | | | | This loan is used to consolidate several prior loans into |
| Unsubsidized federal loans are available to anyone. | | | | one loan source with one payment to a single lender, |
| With an unsubsidized college loan, the student must | | | | rather than having several payments to several |
| pay the interest beginning at the time the loan is issued. | | | | lenders. Most students find that they need this type of |
| There is no deferment. Federal student loans are very | | | | college loan after they made the mistake of not |
| easy to obtain and are the most commonly used. | | | | getting enough funding in an initial loan. |
| The next type of college loan is a private student loan. | | | | |