About Student Loans


About Student Loans

Understand the difference between federal, private, and state loans.

Student loans are the most prevalent form of financial aid to help students and families pay for higher education. The decision to borrow to pay for higher education is an important one that only you and your family can make. Keep in mind that any money you borrow must be repaid. A student loan is a financial obligation that will not go away until it is paid in full — unless, under certain circumstances, a borrower qualifies for loan discharge or forgiveness.

Federal student loans are offered under two government programs — the Federal Direct Loan Program (FDLP) and the Federal Perkins Loan Program (note that other federal programs have been discontinued, as explained further below). Additional loans are available through many state governments and private lending institutions.

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