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

If you are considering entering college soon you should be aware of the many different kinds of government and federal student loan programs. While many colleges do offer free student loan scholarships and there are numerous types of need-based financial aid and grants available; loans still make up the major portion of funding for the price of education for most college students. Private student loans will also be available; however the advantages of federal student loan programs usually far outweigh any advantages of private student loans; if you qualify to receive all of them.

Perkins Loan

One of the most common government and federal student education loans is the Perkins loan. It comes with a a low interest rate rate of only 5% and is awarded to each undergraduate and graduate students. There are no origination fees charged for this loan which is paid back to the school because loan funds are issued directly in the school to the student from monies provided by the federal government.
    FFELP (Federal Loved ones Education Loan Program)

    This is also another common loan and features both subsidized and unsubsidized student education loans. The difference between the two is that the government can pay for the interest of the student loan while the student is within school and during the grace period of a subsidized student loan while the student accounts for the interest in an unsubsidized student loan. Additionally, students must display a financial have to qualify for a subsidized student loan while the unsubsidized education loan is non need based.

    Federal Parent Loan for Undergrad Students (PLUS)

    This type of student loan is open to parents and guardians of dependent undergraduate students. Borrowers need not demonstrate financial need and may borrow up to the price of attendance; minus any amount of financial aid that might be received. Loan funds are first applied to tuition as well as fees. This type of government and federal student loan programs includes a variable interest rate.