Question

In what way(s) do private loans differ from federal loans? interest rates are based on credit history fewer repayment options cosigners may be required all answers are correct

Answer 1

All answers are correct  is the correct option .

What is the advantage of federal loans over private loans?

• Private loans and some credit card interest rates are frequently significantly more expensive than the fixed interest rate. Look up the APRs for federal student loans right now.
• The interest rate is predetermined and may be significantly less than those for some credit cards and private loans.

What distinguishes private loans from federal loans?

The main distinction between federal and private loans is that federal loans are provided by the government, whereas private loans are provided by banks, credit unions, and other financial institutions.

Learn more about federal loans

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