Review of FFELP Loans, Direct Loans, Private Loans, and Parent PLUS Loans

The main loan types are FFELP Loans, Direct Loans, Private Loans, and Parent PLUS Loans. Depending what type of loans you have matters for different programs such as Extended plans and qualifying for Public Service Loan Forgiveness. Parent PLUS Loans are loans taken out by parents used for students education and private loans rules depend on the rules of the individual program since it is not controlled by the Department of Education.

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From: Student Loan Insider

Related topics : student private loan / loan direct servicing