Private and Federal Student Loans: Working Hand in Hand


One incoming college student to one of the country’s premier universities whom I know queried: “Is it okay to just have private student loans and not apply and acquire anymore for federal government college loans? He asks as he does not want to deal with bureaucracy, red tape and all such crappy style.

While it may be possible – remember, it is ultimately your choice on how you will finance your education – it is strongly advisable to first exhaust all means of securing government loans.

In other words, it should be the other way around. You can own all types of federal debts in covering all your college costs and expenses without having to acquiring even a single private student loan.

However, if such government student loans are not sufficient to pay for all the necessary school expenses, you might have to decide on further getting private college loans to totally fulfill your financial obligation.

Between a federal and a private college loan, the former is more important, and therefore more sought after of the two.

Still, private loans are not to be taken lightly. Remember, the reason why they are referred to as the alternative loans is because the complement effectively the federal type. Actually, government student debts work best when actually complimented by private ones - they actually go hand in hand effectively.

Most private financial aids and loans are easy to apply for, offering competitive rates of interests. You also have the option to delay the repayment of such loans when the situation calls for it.