Student Loan Types
Types of Student Loans
Federal Student Loans
Federal loans are issued by the U.S. government and include:
- Subsidized vs. Unsubsidized Loans: Subsidized loans do not accrue interest while you are in school, making them a great option if you qualify.
- PLUS Loans: Available for parents and graduate students.
- Eligibility and FAFSA: Start with the Free Application for Federal Student Aid (FAFSA) to see what federal loans you qualify for.
Private Student Loans
Private loans are offered by banks and other financial institutions, and can be a good option if you need additional funding:
- Cosigner Requirements: Most private student loans require a cosigner.
- Interest Rates: Often based on your credit score.
- When to Consider Private Student Loans: If federal loans, scholarships, and grants are not enough to cover your costs.
Graduate Student Loans
Graduate students can access larger loan amounts through both federal and private lenders:
- Grad PLUS Loans: Federal loans with higher borrowing limits.
- Private Graduate Loans: Ideal for students needing more funding for professional or advanced degrees.
International Student Loans
If you are an international student studying in the U.S., your loan options may be limited, but there are private lenders who specialize in loans for non-U.S. citizens:
- Eligibility Challenges: Many private loans require a U.S. cosigner.
- Tips for Finding the Right Lender: Explore lenders that work with international students.
Learn More
Federal Student Loans
A complete guide to government-backed loans and FAFSA.
Learn morePrivate Student Loans
How bank and lender loans work, and when to use them.
Learn moreGraduate Student Loans
Funding options and higher limits for advanced degrees.
Learn moreInternational Student Loans
Loan paths for non-U.S. citizens studying in the States.
Learn moreTrade and Technical School Loans
Financing for specialized training and certifications.
Learn more