| With the ever rising rate in college fees more and | | | | undergraduate students. The Perkins loans are for |
| more students have to rely on college loans, grants | | | | graduate and undergraduate students with financial |
| and scholarships. It is important to understand the | | | | needs while the Parent Plus type is for the |
| various types of college loans that are available and | | | | undergraduate and dependant students. The |
| how they each work. This way you will have a basic | | | | Graduate PLUS is designed to help graduate students. |
| idea of what you are getting yourself into and what | | | | If you can consolidate all your college loans you can |
| to expect. It is important that you get the right loan | | | | save money while you are repaying your student |
| to suit your particular needs. You must consider your | | | | loans. You will be able to reduce your loan payments |
| budget, time constraints and personal needs. One | | | | and also manage to complete your studies and look |
| type of loan that falls into this category is the federal | | | | for a job. When all the federal loan possibilities have |
| college loan. They usually come from private financial | | | | been exhausted, you still access funding from schools |
| institutions. | | | | and private institutions. |
| There are federal loans that have more advantages | | | | This type of financing varies widely and the terms |
| over the private ones since they are fast, offer low | | | | usually depend on the credit history. International |
| interest rates and have great flexibility in loan | | | | students are also eligible for these loans through |
| amounts. Federal loans include Perkins, Stafford, | | | | private institutions. There are specific requirements |
| Parent PLUS, and Graduate PLUS. The most common | | | | that attached to these loans and they must be |
| type of college loans are the Stafford ones. They | | | | repaid after graduation or the student status is |
| have low interest rate, are at a fixed rate and | | | | terminated. |
| available to both part time and full time | | | | |