Acquiring formal education may not be as easy as it is being preached. Many people are of the opinion that education should be free of charge, but that is not the case as many private institution now see education as a big business. Those who want to acquire university education but do not have sponsors resort to taking student loan in United State.
Those who choose to taking student loan in United State must make sure that they have read and understand the loan terms and conditions. Both federal government and private organizations can give student loan in United State university.
Types of Federal Student Loans Available
Federal Student Loans are of different types and categories. The U.S. Department of Education’s federal student loan known as direct loan program where the U.S. Department of Education is a lender. Direct loan is of four types.