| The skyrocketing expenses of college tuitions have | | | | loan, the government foots the bill for the interest for |
| created a requirement to get a student loan these | | | | you during the time you attend school. Subsidized |
| days. College students need to be able to pay tuition | | | | college loans are based on the student's financial need. |
| costs, as well as purchase books, food, gasoline, and | | | | Unsubsidized college loans charge interest while you |
| pay for utilities such as cell phone bills, recreation | | | | are attending college. You must start paying on the |
| expenses, - the list goes on. Various college loan types | | | | principal after you have completed school. Both of |
| help students to be able to pay for their multiple college | | | | these kinds of loans require that repayment begin 6 |
| expenses. However, these loans must be repaid under | | | | months after the student has completed their |
| certain stipulations. | | | | education. |
| Here are some types of student loans that have | | | | Federal parent loans, also called PLUS loans, are |
| different requirements and time requirements for | | | | student loans that are not dependent upon your |
| repayment: | | | | income, but loan companies do look at personal credit |
| Direct student loans are loans that must begin to | | | | history. Parents and guardians that have a dependent |
| repaid 6 to 9 months following the student having | | | | child who is in college at minimum part-time can apply |
| completed school courses. A direct student loan is | | | | for the PLUS loan. Interest rates for these loans are |
| issued through the college that the student is going to, | | | | usually around 9% or less. |
| which allows lower interest rates than guaranteed | | | | Literally any college will let you to use a direct student |
| student loans. | | | | loan, guaranteed student loan or PLUS loan. It's |
| Guaranteed student loans, also called Stafford Loans, | | | | essential to diligently study all possible options for |
| have low interest rates. Students can try to get either | | | | financing ongoing education. Your future life is linked to |
| a backed or unbacked student loan. With a backed | | | | your financing, and that lifeline is your college loan. |