What is the Difference between Getting a Federal Student Loan and a Private Student Loan?

by: Michael Saunders
Attending college is a milestone, but can also be extremely expensive. With some options already in mind, you may want to look at the student loan alternatives that are available to a college undergraduate. Student loans can be very tricky, and are very confusing to most. In many situations, families are accepted for all different kind of loans and then are left in the dark when it is time to pay it back or fail to realize that they owe as much due to accrued interest.

With high interest rates and very unforgiving payment plans, it is best to know what options are available to you prior to being seduced by college lenders with promises of fast money.

You may already be somewhat familiar with the terms ‘Federal Student Loan’ and 'Private Student Loan'; these are the two most popular type student loans being used today. Do not let the terms deceive you, as they do not sound very different, they come with very different stipulations and payment approaches when it comes time to pay the money back. A student loan is anything that is aided to the student or their family from the government or school the student plans to attend. These loans the student will pay back with interest at a later date.   (continued...)

What is the Difference between Getting a Federal Student Loan and a Private Student Loan?
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About The Author The author edits a site featuring Grants for Education and another Government Grants site providing info on every grant the federal government offers. Michael Saunders has an MBA from the Stanford Graduate School of Business.

Additional Government Grants Resources

The Collaborative Islet Transplantation Registry Program
The National Institutes of Health has formed a partnership with the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) in order to establish the The Collaborative Islet Transplantation Registry Program wherein both agencies seek to invite applications that intend to continue initiatives started through the Collaborative Islet Transplantation Registry (CITR).

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2012 Scallop Research Set-Aside Program
The Department of Commerce, in cooperation with the National Marine Fisheries Service (NMFS) and the National Oceanic and Atmospheric Administration (NOAA), has recently established a project entitled 2012 Scallop Research Set-Aside Program.

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Special Research Grants Program - Pest Management Alternatives
The National Institute of Food and Agriculture has recently established the Special Research Grants Program - Pest Management Alternatives in an attempt to provide support for the development and implementation of integrated pest management practices, tactics and systems for specific pest problems while at simultaneously reducing human and environmental risks.

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Clinical Trials for Organ Transplantation in Children Program
The National Insitutes of Health has formed a partnership with the National Institute of Allergy and Infectious Diseases (NIAID) to establish the Clinical Trials for Organ Transplantation in Children Program wherein both agencies intend to support a group of investigators in their quest of conducting clinical trials regarding pediatric solid organ transplant recipients.

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Northern Rocky Mountain Science Centers offers funding to Rocky Mountain Cooperative Ecosystem Studies Unit Program
The goal of the Cooperative Ecosystem Studies Unit(CESU) Program is to jump-start research studies that address concerns regarding the effects of climate change on the hydrology and biota of northern Great Plains.

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Mechanisms Mediating Osteoarthritis in Aging
The National Institutes of Health, in close cooperation with The National Institute on Aging and the National Institute of Arthritis and Musculoskeletal and Skin Diseases, has recently established a program called Mechanisms Mediating Osteoarthritis in Aging in an effort to improve and encourage the characterization of new and underutilized models in order to gain a deeper understanding of mechanisms that are involved in osteoarthritic progression.

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Government Grants within the United States Housing Sector
The government has established quite a slew of agencies that are specifically designed to administer housing programs and assist the needs of homebuyers, renters, and property developers.

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