what is the main benefit of taking out a federal student loan instead of a private loan? select a response…
what is the main benefit of taking out a federal student loan instead of a private loan? select a response. you can defer paying your loan until 5 years after graduation. you may qualify for loan forgiveness after you graduate. you will have a higher interest rate for a federal student loan. you can pay the principal down faster on a federal student loan.
Answer
Brief Explanations:
Federal student loans often offer loan - forgiveness programs under certain conditions like public service or income - driven repayment plans. Private loans generally do not have such forgiveness options. Deferment periods are usually not 5 years after graduation for federal loans. Federal student loans typically have lower interest rates than private loans. There's no general rule that one can pay the principal down faster on a federal student loan.
Answer:
You may qualify for loan forgiveness after you graduate.