All Student Loan Lenders

About Student Loans

Since higher education is no longer affordable for many students, a number of financial aid programs have been introduced. Through these options, students can manage the skyrocketing tuition costs and turn their dream of a higher education into a reality. Financial assistance is available to students in the form of grants, scholarships and student loans. Unlike grants and scholarship administrators, all student loan lenders require that the amount of the loan be repaid. Repayment of loans starts after a student completes his/her studies. Some loans may allow a certain grace period after graduation before repayment has to start.

Federal and Private Student Lenders

The federal government is one of the major student loan lenders. It offers a variety of student loans on very low rates of interest, which helps students afford higher education. These programs include Stafford loans, Perkins loans and Parent Plus loans. Other than low rates of interest, these loans also have flexible terms of repayment. To obtain these loans, students must fill out the Free Application for Federal Student Aid (FAFSA). Federal Perkins and Stafford loans are based on need while Parent Plus loans are non-need based and are meant for students' parents who want to contribute to their children's educational expenses.

Private lenders such as banks also offer student loans. Compared to federal student loans, these loans have higher rates of interest, but they may help students meet many educational needs that are unmet by federal loans alone. Notably, the terms and conditions of private student loans vary with each lender.

Finding the Best Student Loan Lenders

You must explore all student loan lenders before you finally pick one. Comparatively, federal student loans have lower interest rates and so they should be your first choice. However, if what you need proves greater than your funding options, then you should definitely look at private loans. Your college or university's financial assistance office may be able to provide you with good leads.

You should also explore our Loan Comparison Tool to help you compare the loans available to you; let us help you choose the option that best suits your needs.