| During these tough times more students are | | | | look out for. |
| opting to continue their education by going to | | | | Government loans are hardly ever advertised like |
| college. This is good - if you can get in- and if you | | | | the other loans. These loan lenders may flood |
| can afford it. | | | | your mail box with ads and information or start |
| Many a times, potential students (or parents) do | | | | calling once they know you have a senior in |
| not have the money to pay "cash" for college. | | | | school. A Federal loan will probably never do this. |
| This means the only other thing that can be done | | | | Some Private loan agencies like to use names and |
| to pay for college is to take out a student loan. | | | | logos that will make you think they are a Federal |
| Taking out loans for college is quite prevalent and | | | | loan or at least affiliated with the government - |
| safe, but, it is only safe if you know what you | | | | so watch out. |
| are doing. Here are a few things you should know | | | | Some times the private loans may come with an |
| before you sign on the bottom lone for a loan. | | | | incentive or a gift you get a loan. Again, just be |
| There are two types of loans - the Federal loan | | | | ware of this. |
| and Private loans. This is one instance when it is | | | | Also, if talking with someone over the phone |
| good to have a Federal involvement in something | | | | about a private loan don't give them too much |
| you are doing. These loans are overseen by the | | | | information. While many agencies may be |
| government and generally provide the better | | | | reputable, there are a good number which are not |
| choice for a loan. | | | | and need to be avoided. |
| Again, generally speaking, government loans | | | | The bottom line is to stick with the Federal loans |
| usually are at a lower interest rate, have less | | | | first. They are the better deal and the more |
| fees, better pay back options, more protection, | | | | trustworthy people to deal with. Now after saying |
| and may offer you some things that Private loans | | | | that, there are many reputable Private loan |
| won't offer - like maybe a cancellation option - | | | | agencies out there. In fact, these agencies |
| under certain conditions. | | | | provide a very important part in giving many the |
| So the first thing you should do is get as many | | | | ability to go to college. Without these agencies, |
| Federal loans that you can and then supplement | | | | many dreams would never be realized. |
| the balance of what you need with Private loans. | | | | You just need to be ware, that if you are going |
| Private loans are not regulated as much as the | | | | to get a Private loan, there are some thing you |
| Federal loans. They can also be deceptive too in | | | | need to know and understand before you commit |
| their ads - so beware. Here are a few things to | | | | to some big loans for that college career. |