For students,a federal loan is usually preferable to a private loan because

Question

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Federal loans tend to have lower interest rates compared to private loans, providing a more affordable option for students. Additionally, federal loans often have more flexibility with repayment options, including income-driven repayment plans and loan forgiveness programs. While private loans may offer variable interest rates, they also come with higher interest rates and stricter repayment terms.

For Students,a Federal Loan Is Usually Preferable to a Private