5 Things About Federal Student Loans

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Published Dec 17, 2023

Spoken English Tips

By KKS

Education

5 Things About Federal Student Loans you must know if you are a student

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Easy Application 

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Applying for federal student loans is simple. Just fill out the Free Application for Federal Student Aid (FAFSA) online—it's your key to financial aid. 

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Low Interest Rates 

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Federal loans offer lower interest rates compared to many private loans. This helps keep your overall loan cost down. 

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Flexible Repayment Plans 

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You get to choose a repayment plan that suits your budget. Options include income-driven plans, making it easier to manage payments. 

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Grace Period 

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After graduation, you usually have a grace period before repayment begins. It gives you time to find a job and get financially settled. 

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Loan Forgiveness Programs 

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Some jobs and professions qualify for loan forgiveness programs. Working in public service or certain non-profit organizations can lead to forgiveness after a set period of on-time payments. 

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