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• Why do people often cite education as something only government can provide?
• Government takeover on Private student loans?
• What do you think of Obama’s stand against the student loan free lunch given to banks?
• Consolidation of Private Student Loans Makes Things Simple
• do a for profit college graduate have a lawsuit?

Comments

1. 
   On August 06, 2010 Harry Ball says:

   The only reason private loans are better than government loans is because the government can hold that loan over your head and you can’t fight them. So if for some reason you are late paying it back, they can withhold tax returns, garnish paychecks, etc. etc. A private loan company doesn’t have that ability. They can sue you if need be but that is a long process and you can fight it in court. The government can start ripping money out of your check without even telling you if they just up and choose that they want the money right now.

2. 
   On August 06, 2010 Joshua S says:

   Usually governmental loans have lower interest rates. I have two loans from school, one public and one private…My government loan interest rate is much lower than the private loans rates. If I could do it all over again I would get only government loans.

3. 
   On August 06, 2010 K says:

   Government loans generally have much lower interest rates and some don’t require repayment until you’re finished school. The downside is the amount they make available is set in stone and can often be not enough.

   Private or Bank Student loans have much higher interest rates and do require a monthly payment even while going to school. So they lend you money but demand immediate repayment installments. An upside is that should you need the amount increased at some point during the school year, they will gladly extend the limit assuming your credit rating is sufficient.

   Personally I’d go for the government loan and just live as thrifty as you can. You don’t want bank debt… trust me.

4. 
   On August 06, 2010 spalmer says:

   Federal (government) loans have perks that private loans don’t offer… 1. they aren’t based on credit scores or income… 2. they have maximum limits so that you don’t get overwhelmed with debt… 3. there are a variety of repayment options – income-based, graduated, public service forgiveness, standard plot, etc… 4. interest rates are usually lower with federal loans… 5. if you qualify for a subsidized federal loan, the government will pay your interest during periods of deferment – both in-school deferment and financial hardship deferments.

5. 
   On August 06, 2010 Deb Egan says:

   ? It all depends on what you want to get out of it. Check out my financial aid blog for more financial advice info and more useful thoughts:
   http://financial-aid.50webs.org/

6. 
   On August 06, 2010 Mario says:

   colleges.mywebcommunity.org – it provides some tips about applying to US federal and state grants for college students.