all the statement is correct for private loans differ from federal loans
Unlike federal loans, most private lenders offer borrowers the option to choose between fixed and variable interest rates. Floating rates often start lower than fixed rates, especially during periods of low-interest rates, but can rise over time. Fixed fees are a safer choice for the average student.
Must be a US citizen or eligible non-citizen. Have a valid social security number. Have a credible degree or certificate course and be enrolled or admitted as a student of at least half of it. Maintaining academic performance in college.
Student loans may come from the federal government, private sources such as banks or financial institutions, or other organizations. Loans granted by the federal government, called federal student loans, typically offer more benefits than loans from banks and other private sources
Learn more about federal loans here
brainly.com/question/16724065
#SPJ4