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Ten Top Student Loan Options

1. Subsidized Stafford Loan
2. Unsubsidized Stafford Loan
3. Federal Perkins Loan
4. Federal Plus Loan For Parents
5. Direct Plus Loans
6. Federal Consolidation Loan
7. Federal Nursing Loan
8. Federal Insured Student Loan
9. Health Professions Student Loans
10. Private Student Loans

1) The Subsidized Stafford Loan is available for both graduate and undergraduate study. While the student is actively enrolled in school, the interest on the loan is paid by the federal government. This loan is need based, so not all applicants may qualify.

2) The Unsubsidized Stafford Loan is also available for graduate and undergraduate study. Unlike the Subsidized Stafford Loan, with this loan the student is responsible for the interest that is accrued on the loan while they are in school. This is not a needs based loan, so students may be eligible for the loan even if they do not show a financial need for the loan.

3) The Federal Perkins loan is a type of student loan that is available to both graduate and undergraduate students. Applicants must demonstrate financial need in order to qualify for this loan. Funds are disbursed by the school and must be repaid to the school.

4) The PLUS loan program gives parents of students the option to borrow up to 100% of their child's cost of education. Parents are eligible for this loan even if they do not demonstrate a financial need and regardless of income.

5) Direct PLUS loan: this type of student loan is available to parents and guardians of dependent undergraduate students. Borrowers do not need to demonstrate financial need and may borrow up to the cost of attendance; minus any amount of financial aid that may be received. Loan funds are first applied to tuition and fees. This type of government and federal student loan has a variable interest rate.

6) The Federal Consolidation Loan program gives students and their parents the option to consolidate loans and take advantage of lower interest rates and monthly payments.

7) The Federal Nursing Loan gives students who are enrolled in nursing school the option of a low interest loan and flexible repayment options.

8) The Federal Insured Student Loan program gives students who might not otherwise qualify for a student loan the ability to receive the funds they need to complete their education.

9) The Health Professions Student Loan provides long-term, low interest loans to students pursuing degrees in dentistry, optometry, pharmacy, veterinary medicine or podiatry.

10) Private student loans require a credit check for borrowers; however, students and their families are typically able to borrow more money than they would have been able to through a federal student loan.

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