Why are there so many student loan types?

There are many different loan types to choose from because there are many different financial needs in each family.

There are so many student loan types because there are so many different needs for financing an education. One size does not fit all and the Government and Taxpayers want to create access and equity. Subsidized Government loans are designed to help those with the greatest need. Unsubsidized Government loans are designed to help those with the greatest need. Private loans have become a major component of many students' resources to pay for education because the Government loans cannot cover the remaining costs.

Written by Don Black and Tami Trover -
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