Federal/ Public Loans
Federal loans are those provided by federal student aid after a student has filled out their FAFSA. Usually these loans have a moderate interest rate and can be paid back over a professionals career with considerations like income and public service able to be used as credit towards repayment.
Private loans are provided by private financial institutions such as banks and cooperatives with interest rates varying widely. The generally have a timeline in which they need to be paid back regardless of circumstance post-graduation.
How to Protect Yourself
As with any institution or organization asking for personal financial information it is important to protect yourself from those who might take advantage of a students financial need.
We are working hard to develop additional resources to help you protect yourself against these potential harms but ultimately being vigilant to fraud and making an investment in yourself by taking ownership of your learning will be one of the biggest factors in your vulnerability.