Federal Student Loans

Do you need to apply for Federal Student Loans? Receiving a college education may be the single most important accomplishment that one may achieve in their entire life time. In a recent report, the US Department of Education stated that over eighteen thousand men and women had enrolled in a degree-granting institution for that year, and by 2016, those numbers will have had increased to nearly twenty-one thousand students. Recent facts regarding tuition at Stanford University showed that out of the 6,689 students enrolled over a four quarter term, 5,197 of the students required financial aid at an average debt cost of over $16,700.

Do you need to apply for Federal Student Loans to pursue your college degree?
Apply for Federal Student Loans today.

With the costs of college tuition increasing every year, it is becoming more and more difficult for students to afford the required funding to attain a college degree. With Federal Student Loans, many are afforded the option of college which may not have been available otherwise.

Of the more popular Federal Student Loans, are Federal Stafford Loans. Federal Stafford Loans come in two forms:

• Subsidized Stafford Loans
• Unsubsidized Stafford Loans

Other Federal Student Loans are: Federal Perkins Loans and Federal PLUS loans

• Federal Perkins Loans
• Federal PLUS Loans
• Federal Graduate PLUS Loans
• Federal Student Consolidation Loans
  

Below, are some of the features and benefits available to those students that elect to seek educational funding assistance through Federal Student Loans:

• With a Federal Student Loan, the credit of the student is not taken into consideration.
• If a student so decides to start paying off the debt ahead of schedule, there is no penalty for early payment.
• In the event that financial difficulties arise, or the student wishes to consolidate the loans, there are many options available.
• As long as the student is enrolled at least of half of the time, payments are not required.
• There are several payback and deferment options such as Military service or graduate school.
• Even after graduation, there is still a six month grace period before payments are required.

Federal Student Loans offer many benefits over traditional loans as well. For example, the Federal Student Loans offered by the government are usually given at a lower, fixed interest rate, where loans that are offered by banks and lending institutions are not. Combined with easy repayment terms, there is a wide margin of financial freedom with the flexibility these loans provide. Moreover, there are even alternative loan payment options which may be available, such as income based, sliding scale loans. Furthermore, there is a level of loan forgiveness which is not available through traditional private funding.

Every year, the cost for both four year public and private college educations have been increasing steadily. In a recent report given to the house of representatives by the United States Government Accountability Office, the average tuition for a four year private education increased $7,330, up 38% in the last ten years alone.

Do you need to apply for Federal Student Loans to pursue your college degree?
Apply for Federal Student Loans today.