Federal student loans
Start with a federal student loan from Sallie Mae, a loan sponsored by the Federal Family Education Loan Program (FFELP).
Loans available under federal programs have very attractive terms when compared to most other borrowing options:
- Lower interest rates.
- The possibility of having interest subsidized by the federal government while the borrower is in school.
- The ability to postpone making payments.
- Longer repayment terms.
- Less stringent credit requirements.
Widely used federal education loans