I have some questions about federal student loans.
I can help you with that. Are you the student in need of a loan to pay for college?
No, my son will be taking out the loan.
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Should my son take out federal student loans?
Yes. It's always recommended that you start with federal loans.
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How can my son become eligible for federal loans?
His first step will be to fill out the Free Application For Federal Student Aid(FAFSA).
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How do federal loans differ from private loans?
All federal student loans and parent loans are funded by the federal government.
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Okay. How else do they differ?
As I've mentioned before, federal student loans are made by the federal government with terms and conditions that are set by law. Private loans, on the other hand, are made by private organizations such as banks, credit unions, and state-based organizations. Their terms and conditions are set by the lender.
