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02-18-2009, 05:27 AM
Federal Student Loans: The federal student loans in US are authorized under the Title IV of the Higher education act. There are a number of programs available under the federal loans. These loans supply financial help for students enrolled in schools. Here school refers to a private college or university or a trade school. These loans are offered by private organizations under the U.S. Department of Education through Federal Family Education Loan Program and the Federal Direct Student Loan Program. These loans generally cover school expenses, tuition fees, room and boarding, books and other supplies as well as transportation.
Stafford Loan : Stafford Loans are federal student loans directly available to college and university students to supplement personal and family resources. Depending on the financial need of the family the loan is subsidized or not by the government of U.S. Both the types of loans are guaranteed by U.S Department of Education or else by some other guarantee agencies. Both the types offer a grace period of 6 months after graduation during which no payment is due.
Stafford Loan : Stafford Loans are federal student loans directly available to college and university students to supplement personal and family resources. Depending on the financial need of the family the loan is subsidized or not by the government of U.S. Both the types of loans are guaranteed by U.S Department of Education or else by some other guarantee agencies. Both the types offer a grace period of 6 months after graduation during which no payment is due.