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The terms for different student loan programs, including amount, interest rate and repayment terms can vary greatly from program to program. It is important to be an educated borrower and review the terms of each program prior to accepting any loan funds. Federal student loans are administered through one of two federal loan programs - the Federal Direct Loan Program or the Federal Family Education Loan Program (FFELP). As of July 1, 2010, no new loans are available through FFELP.
Paying for education after High School is a lifelong investment in achieving life's goals. Getting there may require the assistance of resources including the Federal and State Governments, private financial institutions, family contributions and individual savings.