Student Loan 101: Are Federal or Private Loans Better?

"If you need to borrow money to pay for college, you're not alone. The College Board reported that 54% of bachelor's degree recipients from public and private nonprofit universities graduate with student loan debt," Yahoo Finance reports. 

... "Financial experts and organizations like the National Association of Financial Aid Administrators, the Consumer Financial Protection Bureau and The Institute for College Access & Success all stressed exhausting all federal financial aid — including federal student loans — before turning to private loans. Why? They usually have lower rates than private loans, and the government provides more borrower protections and repayment options than private lenders."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.


Publication Date: 8/4/2023

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