Tips on Student Loan Consolidation

That can be hard to manage for a fresh graduate what with the current state of the economy. However, you may still have hope through student loan consolidation where you can get rate of interest reductions or simpler management of every month loan payments.
Do you have college loans from different financial institutions?
If your debt from financing your college schooling has branched out in to variable rates of interest and numerous payments, you can secure a single, lower, fixed rate for your loan through student loan consolidation. How?

First you must pick whether to consolidate. There's factors you require to think about before deciding to consolidate. In the event you settle on a fixed rate, this means you'll must stick to that payment even when rates go up or plummet. Also, make definite that your loans can be consolidated.

Are you able to consolidate your private loans?

Consolidate your federal loans. This lets you pay every month bill on a fixed rate. Rates for federal loans are lower than what a private consolidation offers. Federal consolidation rates also depend on the type of loans you have at the time of taking them. Do not consolidate federal loans in to a private loan. Doing so can lose you privileges to apply for forbearance, defer or apply for loan forgiveness.

It is feasible to do this and you can check along with your original lender to see what rates are available for you. If your lender's rate offering is not appealing for you, do comparison shopping until you find the best suited for you. Conduct research about associated fees so you can pick whether it is advantageous for you to consolidate private loans.
Keep up on student loan news. Why do you require to do this?

In the event you haven't done any student loan consolidation yet, this is going to help you choose if it is safe for you to consolidate. You can check online for regular news for college loans and stay up to date on useful information.

Student Loans - Great Rates After Leaving College

A loan out there for you.
here are lots of student loans obtainable in the market today. In case you require a student loan for any coursework, from becoming a lawyer to training for nursing, there is must be able to finding something that suits you perfectly.
Today, the excuse of not having money is not acceptable when it comes to studying. There's so lots of opportunities for first rate loans out there, you
Then at the finish of your coursework, what happens when you have done your studies & you require to pay off your student loan? You require to make new arrangements to
Student Loans At The Finish Of School
Here, great student loan consolidation rates that will minimize the amount of money that you pay each month are obtainable as long as you act soon after
fix your ongoing credit needs.

graduation.
What are student loan consolidation rates anyway? In case you are familiar with loans then you ought to understand that when you consolidate loans together, you may In case you get student loan consolidation rates that are lower than what they were historically in the past, then you can save lots of money.be able to receive a lower overall rate.Who ought to you approach for help together with your loan requirements? The people that are very knowledgeable on this topic are, of coursework, the lenders themselves. In case you Who Ought to You Approach For Student Loans?require to get nice student loan deals then you ought to ask these lenders or creditors.One time you have your degree, take time to sort out your ongoing lending, because the rates that you got as an undergrad will require to be sorted out soon after you leave school - that is the way it works - or the lending rate will go way up.You ought to not permit these loans to eat up in to your personal income, with those higher rates, because money is money & you require to value it properly. You have Finding Help With Student Loans Consolidation
made your way through school & you are now earning first rate money.
In case you require to save on costs then you ought to apply for some kind of student loans consolidation right away. In case you think that these consolidation deals are complicated, then basically ask a creditor or a banker for advice. You will certainly finish up saving a lot money in the long run.
In case you require to make of the best decisions in your life then you might must look at the student loan consolidation rates that are obtainable today.
Do not permit these opportunities to pass you by, because money is something that does not grow on trees.

Student Loan Consolidation Tips Guide

During their student life, students accumulate a lot of loans to secure their college degrees. These loans show to be helpful for some time, however when the
time for their repayment arrives, their numerous every month installments with different rates of interest pester the scholars causing them to lose their sleep & get diverted from the path of success in their career. Hence, the most desirable thing to do to keep away from this sort of situation is to opt for a Student Loan Consolidation.Student Loan Consolidation is fundamentally a loan which absorbs all the earlier loans taken by a student to finance his studies & other needs. By consolidating all his loans a student saves his hard work & time as it is much simpler to handle payment every month than several separate payments. Secondly, a consolidated
student loan carries a lower rate of interest than the various other student loans. Moreover when a student opts for a consolidated loan he's to pay

rate of interest, not several different rates. Also, a consolidated loan offers more flexible repayment options than the other loans. This type of loan is also

Student Loan Consolidation rates might vary depending on the student's financial situation. It will be very simple to acquire an excellent Student Consolidation
usually free of any kind of prepayment penalty.Some lenders might offer 50% lower every month designs than others. A student ought to review the terms & conditions of all the lenders & ought to pick the who
Loan plan if has a credit score of over 660 (FICO score). Different lenders offer different every month designs according to the student's loan situation.
offers simplest repayment options with a every month payment that won't become a burden for him.While thinking about consolidation a student ought to always opt for fixed rate of interest than floating rate. This reduces the element of uncertainty & payment period, which does not burden him in any way. This is very significant as the rate of interest & every month installments are both calculated according to
clearly defines what has to repay in future. Hence, ought to always pick a lender who is offering the lowest fixed rate of interest. ought to pick the
Above all, it is recommended that a student ought to keep away from Student Loan Consolidation if he's already paid a major part of his loans because opting for
the period of the loan. Whether the lender will be able to extend the payment period according to the needs of the borrower ought to even be Enquired first.
consolidation on this stage can reset the loan technique, which will ultimately make him pay over what he had planned for.
Keeping these tips in mind a student ought to first do his home-work by carrying out a survey of what the numerous Student Loan Consolidation companies are offering
him & then go for the best deal that will make it simpler for him both financially & psychologically to get rid of his debt.

Private Student Loans Consolidation

loan, and the other types of student loan consolidation out there.

When applying for student loan consolidation, or even looking in to it, you need to first look at what kind of student loan you have. Student loans are split in to

types; federal loans and private loans. Below is information on each so you can categorize your own loan, and also find get some more information on your

Private Loans

Private loans, otherwise known as alternative loans are loans that have been orchestrated privately, in lieu of by a federal lender or corporation. These can

able to give you a tiny slack when you need it, but as lovely as this may sound, private loans are lacking in definite areas, as well. of the largest cons

sometimes be a lovely option and can have definite benefits, in the event you take out a loan with a widely known relatives business, or somebody reliable who may be

being that they don't offer the benefits and assurance of quality that are offered by federal loans, which are more closely inspected by the government.

Additionally, private loans are more susceptible to scamming, because they are not supported by the government as much as federal loans are. However, definite

government agencies do have lists of untrustworthy or shady private lenders, to help protect customers. A quantity of these agencies include The U.S. Department of

Schooling and the Federal Trade Commission. Make definite you take a glance at these agencies sites and information before making a move towards a private loan.

Federal loans are usually the best avenue to venture towards when taking out a student (or any type of) loan. They are both regulated and supported by the

Federal Loans

greater assurance of lovely service and safety in where they put their funds. examples of federal loans are Federal Relatives Schooling Loans and Direct Loans.

government, and are carried out by government agencies. This means that the agencies have been well inspected and are up to regulation. This gives customers a

already, make definite you be definite that they are reliable and government inspected, if feasible. In the event you have either loan, make definite to check details and ask about

Once you have decided which of the above categories you fit in to, make definite to look in to further details together with your lender. In the event you have a private loan and haven't student loan consolidation.

Most People Owe Money After College

Having attended college, unless you come from a well to do relatives having parents with deep pockets to pay you through college, chances are that you are left

with some kind of College Student Loan Debt, & each year you take out loans, each is a new & distinctive loan that helps you pay for your tuition & living

Don't Go Alone

expenses.

reach for those who are initiated. Try seeking the counsel & advice of knowledgeable & experienced people within & beyond your network of contacts to walk

As a rule, the idea & practice of Student Loans Consolidation to economize & hassle is alien to most people at first. Help is however within

you through the process.

By having someone who knows what they are doing with you, you won't only feel much more confident but you can also take comfort knowing that you are making

the right decisions & doing your best for your financial future.

Finishing College with Help of Loans

Direct Student Loans For College can help individuals who have small money to get in to & finish college. This offers the less blessed people the chance that

they are looking for to further their schooling. Consolidating Student Loans at appropriate times opting for Direct Student Loan Consolidation can definitely be

a amazing thing, with all that they must offer. Money ought to only be the last thing ever to cease someone from finishing college.

Direct Student Loan Consolidation Programs

loans. This is true for both Federal Direct Loans and Private College Loans.

Consolidating Student Loans by picking the best from among different Direct Student Loan Consolidation Programs may be the way to go for those with outstanding

But before you act, make sure your pending decision to go for consolidation before you graduate is going to work for your specific situation. man's meat can

Check Before Taking The Plunge

benefit you the same way.

be another man's poison. Everyone is different and so because something could be a lovely suggestion for person, this does not mean that it is going to work to

Different Direct Student Loan Consolidation Programs out there with different features can potentially offer borrowers a range of different benefits. You are

What Benefits To Expect?

going to need to be aware of all these benefits before embarking on any of them, so you can be sure that you are doing things right.

Ought to I Consolidate My Student Loans?

Lower Student Loan Consolidation Rate Beckons

Different people select to consolidate their loans for different reasons.

The lure of a lower rate is of the most common reason why people opt to Consolidate College Loan. You need to be mindful that although you are paying

a lower rate of interest for the time being, you will be paying more in the long run, due to the higher accumulated interest.

Beyond saving funds, sparing yourself of the hard work of having to deal with over lender is another reason why plenty of people select to have loans

College Student Loan Consolidation Rates

The issue that mostly occurs or follows is that most of these students finish up with large debts once they leave college.

Apart from being great financial sources for students, college student loan consolidation play a major role in paying for their college schooling through out.

lender expects some kind of payment every finish month.

In most cases single student might be having over loan because of involving themselves with over lender. Keep in mind that each of these

In case you are such a student; you need not to worry because loan consolidation is here to help you out. Loan consolidation means the combination of all of your

loans in to single loan with a single repayment plan. The existing total balance of your student loan is slowly paid up once you consolidate all of your

schooling loans.

A query that most students find themselves asking is whether they ought to consolidate their loans.

College schooling loan consolidation offers a couple of benefits.

of the benefits is the lowering of your every month payment; you tend to save thousand of dollars because of the lowered rate of interest & your schooling

loan combination in to every month bill which is basically payable.

payments. You ought to also not forget that there's no payment penalties, charges or fees that are necessary.

There's no co-signers or credit checks that are necessary not forgetting that the payments of college student loan consolidation are flexible in terms of

& the averaging of all the loans in consolidation rates of interest is the first step of consolidating the rates of interest. 8.25% is the total maximum

In case you have no idea of how the rate of interest will be for the consolidated loan, you ought to first recognize that the rounding up of percent of eighth

rate of interest.

In case you find the math to be a bit complicated; you can visit the net or an online calculator on loanconsolidation.ed.gov for some assistance. It depends

on the rate of interest that you get to choose on how much you are eligible to save. According the leading student loan provider in the united states Sallie Mae,

it is feasible to reduce as much as 54% of the total consolidation every month payment.

Depending on the college student loan consolidation, you have about0 years to pay all of your consolidation loans. You can choose to pay the loan even earlier

because there's no penalties.

What is the Best Student Loan Consolidation Rate for You?

with the lowest rate of interest. I would love to share with you the knowledge and experience that helped me accomplish this aim.

It is essential to be able to finding the lowest consolidation loan rate. For most college students even a little savings may make significant difference.
When I was six times a college student, I was six times always trying to reduce the rate of interest that I had set on my loans and I was six times able to get approved for a consolidation loan

For example you can apply for a loan with the consolidation fixed loan rate student rate. Fixed rate means that you will be paying the same rate of interest until

So how do you acquire a consolidation loan with the best rate? There's several types of loans that you ought to think about.

you pay off the loan.

If the economic indicators change, you still have the same consolidation interest loan rate. Your rate won't depend on inflation. There will, however, be

conditions when the bank will be allowed to change your fixed rate.

Lets say, in the event you default on or more of your payments, this may cause the student loan consolidation rate to increase.

You can also apply for a loan with the variable (or adjustable) student loan consolidation rate. This means that your consolidation loan low rate student rate

will change depending on the current economic conditions.

If average rates of interest in the economy increase, so will your rate. On the other hand, if the average rates are going down, your rates will decrease .

It is up to you to choose which rate - variable or fixed - will offer you the consolidation loan lowest rate student rate of interest. Different economic

conditions will demand different selections.

It is important to understand that whether you are applying for the consolidation student loan, fast settlement loan online or other type of loan, you ought to

I spent a immense part of my life battling my way out of a mountainous debt load. Some nice came out of these difficulties. I was six times able to teach my son Tim how to

always focus on reducing the student loan consolidation rate or some other type of rate of interest.

financial situations, such as bankruptcy, automobile loans, credit debt consolidation, and student loans.

avoid the financial pitfalls I had run in to. That is when Tim and I decided to start our site, "American Simple Loans". They provide articles about all kinds of

The Importance of Student Loan Consolidation Rates

Whether or not your consolidated student loan makes ideal to you depends on its rate of interest. The student loan consolidation rate is the rate as per

which you will be making your payments & so it is a urgent thing that you require to think about.

explanation why you require to take some time to analyze the different options that are obtainable to you. Checking out options online is a amazing idea because

The thing that you have got got to keep in mind here is that all consolidating agencies have their own rates. a lot of them provide lower rates than others. That is the

here you can inquire in to different suppliers & see what differences are present in their rates. A quantity of them also have features on their web-sites such as loan

calculators. Using them, you will find out what you will be paying each month. This will give you an very concrete picture of how well it is possible for you to to afford

your loan.

When you are purchasing a student loan consolidation supplier, the rate of the loan ought to be of the most important factors in making your decision. Speaking

in general sense, any company that offers you a student loan consolidation rate of over 8.25% is not worth it. This is the necessity to look for when going for

consolidation.

in the event you start your loan at a lower IR, there is all likelihood that it might rise in the future.

You must also make it a point that this is a set rate of interest. These are not a lovely suggestion because they depend on change according to market trends. So, even

start. In the event you are not sure where this option is, you can ask your consolidator to help with it.

Hence, you require to lock in your student loan consolidation rate as soon as you can. You do this by marking that option in the application you fill out at the

different banks in the coursework of your academic journey, you will be paying them back at different rates of interest. However, a consolidated rate will make you pay back

Also, it is important that the consolidation loan rate you go for is lower than all the rates of your individual loans. In the event you have borrowed different loans from

Usually, there ought to be a reduction of at least make your student loan rate to make your student loan consolidation rate appear like a smart idea. While

the loan at a uniform rate of the different rates This uniform IR must be under that of the different rates of the individual loans.

consolidating, the various loans are clubbed together in to single loan, at a single rate of interest & with a single payment per month. This makes it much

simpler for the borrower to pay back the loans. In effect, the consolidating agency will pay back all the loans that the borrower owes to the different creditors,

& then the borrower has to pay back to the consolidating agency.

Student Loan Consolidation Rates Information Online

The Web has for a long time been a great way of exploring for worldwide information and thence has made the world much better and simpler. This makes no

difference when it comes to student loan consolidation rates online. Similarly, there is a immense number of sites available that have loan counselors available to

assist they select in the event that they can best suit their situation. As for them, dealing with a debt, when multiple lenders are involved, could be

hard. The shown organizations here beneath can supply online information on controlling medical school debt, consolidation loans, calculators and different

tools, financial planning resources, and links to connected sites.

To start with, they refer to American Medical Association, recognized as AMA with the net site. The AMA site has information on student loan consolidation interest

rates, and definitions of financial terms. The net Financial Aid Resource Guide supplies links to plenty of financial aid and debt management resources. AMA

Solutions, a subsidiary of the AMA, offers financial management output for members, covering debt consolidation.

resettlement expenses. The site features online applications and information on rates, terms, borrower advantages and cost reductions.

In addition to consolidation loans, Citibank brings City Assist loans for medical residents to cover board review courses, residency interviewing and

Additionally, those students who concern about Medical Access Loan and a Medical Residency Loan can recognize the nonprofit Access Group a nice online source for

their reference. What Is More, to loan information and applications, the site deals with publications and interactive calculators.

Alternative Loan Program for medical students, and the Medex loan program for residency interviews and relocation. The Website has financial planning features,

Added to the list is Sallie Mae (salliemae.com). This company provides funding and servicing for student loans. Its offerings cover the Med loans program, the

a loan calculator and approach to accounts online.

Concerning about Federal Direct Consolidation Loans, students are suggested to select the following organization including U.S. Department of Schooling (ed.gov),

Fin Aid (finaid.org), and The Health Resources and Services Administration, identified as HRSA (hrsa.gov). The Department of Schooling site has information on federal

loan consolidation programs. Fin Aid world-wide, award-winning website provides information about financial aid options, including links to other Sites,

Administration website has applications for refinancing HEAL loans, information on rates, a refinancing calculator, and links to the U.S. Department of Schooling.

lists of loaners providing schooling and consolidation loans, and a considerable number of resources and books on debt management. Finally, The Health Resources and Services

other tools, financial planning resources, and links to related sites.

There's also other different sites available that could provide online information on managing medical school debt, consolidation loans, calculators and

Benefit From Student Loan Consolidation Rates

a degree. But sometimes, savings are not when paying for tuition & other schooling fees. This leads to doing part-time jobs & taking loans. Though

Education is of the most expensive affair yet a very important necessity. There is always a sense of pride & honor when can finish studies & earn

Although parents borrow money to support the schooling in universities, plenty of of us apply for student loans to cover up the additional costs. But the actual check

loans are difficult to pay, there's methods on how to diminish the payment of loans by knowing the student loan consolidation rates.

of loan part is the payback time. When they take loans, there is interest that has to be paid along with the capital or principal loan. What is worse is that the

loan might not be the but it can be plenty of to fulfill our needs. In return, they accumulate plenty of debts to cover while working.

payment has to done for the new consolidated loan. This minimizes the hard work & worry of paying back to different lenders. However you ought to note that there

To make your financial situation better, they have student loan consolidation wherein all existing loans like student or parent loans can be combined & the

institution or state. Some have a fixed rate, while others vary depending on the school.

are fixed time to apply for the loan which is 6 month after graduation or leaving school. There's different student loan consolidation rates that are based on

Plenty of of us are busy with our life & don't bother to look in to these loans & keep paying as it is. There's some who still doubt the benefit of consolidation

& hence are not concerned about it. The most common questions are: Is there any other benefit apart from making payment in lieu of multiple payments? Does

it help you to save on your payments?

Yes, the student loan consolidation rates definitely help you to save. As an example, when the loan is $30,000 & the regular loan payment is around $300; after

consolidation, it will come to about $200 with saving of $100. The mentioned figure is for illustration figure & ought to not be taken as a guide. If there

are unfulfilled payments or late payments for loan, it can be approved depending on the rating.

banks, schools & private institutions, take the time to consolidate it & benefit from the student loan consolidation rates.

So in the event you have multiple loans from different institutions like Federal Direct Loan program, Federal Perkins Loan, Nursing Loan Program, non federal loans from

Understanding Student Loan Consolidation Rates

difficult times, managing multiple loans can be a hassle when repayment begins after graduation. Most students struggle to keep up with multiple

With college expense piling up year after year, every student feels the necessity to take multiple student loans. Although student loans help you tide through

loan repayments, month after month and often fall in to debt that will finally affect their credit score.

College loan consolidation is a great way to simplify your finances and focus on your career than managing several student loan payments each month. By

researching current student loan consolidation rates, you can benefit from a lower rate of interest and reduced every month payments.

Student loan consolidation rates can modify from time to time, so it is vital to stay on top of the current market. What concerns most students on schooling

loans is the high interest rates; with student loan consolidation rates, you no longer need to worry about spiraling rates of interest. You can secure a fixed rate

consolidation loan that will merge all of your student debt in to simple to manage payment.

refinancing. Spend some time comparing rates of interest between lenders and reading their terms before signing the dotted line. There's several types of student

It is important for students to carefully read through the terms and conditions of the consolidation loan program before applying for the student loan

consolidation loans and all of it may not suit you; the main idea is to find something that suits your individual requirements.

When looking for the best rates, look for financial institutions that offer a convenient and simple financial program that helps you manage your finances. It

your existing loans is to benefit from reduced every month payments.

is always better to go for a student loan consolidation program that provides a significantly lower every month payment amount; the main reason for consolidating

lenders to find out the current rates. It is also feasible to check the rate of interest on a new student loan consolidation program that you plan to take by

There's several federal consolidation loan programs that provide a fixed low rate of interest throughout the whole length of the loan; check with different

comparing the rates of interest of your present student loans. Federal student loan consolidation rates offered by federal institutions also provide an extended

repayment period of up to 30 years. This allows students to have much more manageable every month payments.

Being cautious of changing college loan consolidation rates is of the best things for students and graduates to keep an eye on. When you see that the interest

rates have dropped significantly, that would be a nice time to secure a consolidation loan. Historically in the past, rates of interest have hovered around 5%, but have gone

up to about 7% and down to about 2-3%. Student loan consolidation rates offer stunning low rates of interest, making your finances much more simple and
manageable

What You Should Know About Student Loan Consolidation Rates

There's lots of options obtainable for a student to select the best provider of student loan consolidation. Student loan consolidation rates are competitive and can be lend through government or private lender. You can search for a lender online and can check their rates of interest. In any loan consolidation, rates of interest plays a great role. There's lots of lenders that are lending loans to student but when it comes to their rates of interest, they are charging high which is unaffordable by a student.

When most people think of Student Loan Consolidation Rates, what comes to mind is usually basic information that is not fascinating or beneficial.

It is wise for students to look in to consolidating loans and getting lovely rates as this can help a student shift in to responsible bill paying consumer. A student has to pay interest every month and for their every month bills, they has to pay separately but in student loan consolidation, a student has to pay payment.

It is not unusual for a borrower to get a fixed rate of interest that is up to 0.6% lower than their current rates. According to federal regulations, calculating the rate of interest on a consolidated loan disbursed on or after July one, 1994 involves the weighted average of the rates of interest of the elderly school loans you are consolidating under the new, rounded up to the nearest one-eight of percent. Fixed rates of interest on a consolidated loan cannot exceed 8.25 percent.

Before you make up your mind, it is best to browse different company's brochures so that you get the best student loan consolidation rates. You also need to enquire about the company's creditability, etc. It is important to ask yourself about your requirements before you proceed to apply for student loan consolidation. When a student applies for student loans, it is advisable to check the terms that are offered by the student loan provider. But in the student loan consolidation you don't must apply for different types of loan, will solve all of your issues. You need to make every month loan payment every month, in lieu of several loan payments every month over time. This not only saves the student's time, but gives them total peace of mind, thereby enabling them to keep their sanity.

There's lots of advantages of getting a student loan consolidation and it is researched that Americans are the first in the row of taking the advantages of the consolidation rates. Lots of students are taking the advantage of applying for student loan consolidation as it not only lets them study well but give them the choices of shopping also. Consolidations are way of getting control over ones spending and effectively planning a budget. For the best student loan consolidation rates, you can search the world wide web and you ought to be able to finding lenders who are proposing affordable payment designs. Students can then select the best rates based on the lots of proposals that they get.

Student Loan Consolidation Rates

Most colleges offer help with living expenses,& this will get added to your student loans as you receive checks. Some colleges will ask that you attend the first term at school & then they are allowed to apply for the living expense loans. Most colleges will need you to be enrolled as a full time student, as well, to qualify for help together with your living expenses. When you apply for this help, you will write down all of your expenses & income, show proof of each item listed, & you will give a brief description about why you require the help.

Are you already enrolled in college or thinking about going to college? You might require some financial assistance to pay for your college classes, books, and/or living expenses. Financial aid will cover some costs, but most students will have student loans. In the event you already have student loans & have rates that were variable, you can get student loan consolidation rates.

Financial aid & loans are determined by your income, your parent or guardian income (if applicable), the amount of people in the household, & what your expenses are. There may be other criteria in which you qualify for special loans or grants, which you can ask your financial aid adviser about right at your local college.

These checks for living expenses will come every months & can be anywhere from $300-700. These payments to you are added to the balance you will owe for student loans. Lots of schools & the government will permit you time before you require to start making payments for your loans. The time usually begins 6 months after graduation. There is a catch to this, though. In the event you take a break from school, that amount of time is deducted from that 6 months, so in the event you take months off, you will then must start paying back your loans four months after you graduate. One time you start paying back your loans & are finding it difficult to make the payments with the rates of interest you have, students loan consolidation rates might be something to think about.

When you fill out the financial aid application, your financial aid adviser ought to automatically try to get you student loans & grants. Grants do not must be paid back. In the event you are getting an Associate degree in Accounting, for example, your student loans might only be about $6,000-9,000 for the whole college expenses. The amount you will must pay back will be contingent on other help you might get, like living expense checks.

Most rates for loans that students will pay back start with rates of interest of about 6-7%. When you consolidate these loans, you can get rates as low as 2%. Some rates might be higher, like four.8%, but this is nice compared to 6-7% for rates of interest on student loans.

Student loan consolidation rates will be determined by the total amount of loans you require to pay back. Each type of loan differs a small bit. There's Stafford loans & there's Federal And loans. The Federal And loans carryover a higher rate of interest than the Stafford loans.