I'd like to know what a student loan entails for me.
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Will you be receiving a student loan in the future?
Yes I'm currently applying.
In that case a student loan means that you are borrowing money to attend a college or career school. You must repay the loan as well as interest that accrues on it.
Are there options on repaying that loan?
Yes and t is important to understand your repayment options so you can successfully repay your loan.
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Who issues the loan?
It might come from the U.S. Federal Government, your State Government or your College or Career School.
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And what's the difference between a loan and a grant?
A grant is a form of financial aid that doesn't have to be repaid unless, for example, you withdraw from school and owe a refund.
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Are there private scholarships that I can apply for?
Yes, many nonprofit and private organizations offer scholarships to help students pay for college or career school.
