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Are any private student loans still considered government loans?
Wiki User
∙ 15y ago
No, by definition, private student loans are not government student loans. Federal student loans are guaranteed by the US, govt, and the govt sets the interest rates and determine the policies around loan limits and repayment. Private student loans are provided by banks, credit unions and other financial institutions such as Sallie Mae. Because they are not guaranteed, they are much higher risk to the lenders, so they are typically credit based. This means interest rates are variable, and determined by the borrower's credit history. Because most student's haven't had a change to acquire good credit, having a co-signer with good credit almost always improves the interest rate.
Banks don't have any collateral for student loans.
Wiki User
∙ 15y ago
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Are private student loans more financially advantageous than student loans through the government?
Student loans through the government are better than private loans due to the fact that the government does not have as high of interest on the loans, and you get a longer time to pay them back.
Are all student loans issued by the Federal Government?
No..there are also private student loans.
In what ways are private student loans different from government loans.?
Private student loans usually have higher interest rates and have to be paid in a specific time period. Government loans are more flexible.
Can you tell me about private education loans vs. government education loans?
HUGE difference. Federally Guaranteed student loans have very low interest rates and many benefits attached. Private student loans have much higher interest rates and no benefits.
Are Astrive Student Loans backed by the government?
Astrive loans are privately given loans. These loans are not backed by the government, since they are issued by a private company.
What are private student loans?
The private student loans are the loans arranged by the student through any of the private banks at a fixed interest rate. To apply to these private student loans you need a cosigner unless your credit rating is too good and you have a source of income.
Privately owned comapnies generally offer better stufdent loans than the federal government?
In the USA, all Federally Guaranteed student loans have the same interest rate and same benefits. It does not matter if you get the loans from a private bank or directly from the government. Private student loans differ in interest rate and benefits for each bank. Federal Student loans have lower interest rates and better benefits than private student loans.
Is there a company that ofers private student loans?
There are many companies that offer private student loans as an alternative to the federal loans and grants offered by the government. Some examples are Sallie Mae, Chase and Discover.
Is a student loan considered federal?
In the U.S., student loans can be Federal or Private.Stafford, PLUS, and Perkins loans are Federal. Most others are private.
What is the statute of limitations on private student loans in Florida?
what is the statute of limitation on private student loans in florida
Can private student loans be consolidated with federal student loans?
Sometimes private student loans can be consolidated depending on certain factors including the rules of your lender, whether you are in deferrment or default and your credit score. You cannot however, consolidate federal student loans and private student loans together.
What are student loans?
The private student loans are the loans arranged by the student through any of the private banks at a fixed interest rate. To apply to these private student loans you need a cosigner unless your credit rating is too good and you have a source of income.
