Private<span> </span>loans<span> are not funded or subsidized by the </span>federal<span> government; instead, they are funded by banks, credit unions, or </span>other<span> types of lenders. The bank or lender not the </span>federal<span> government sets interest rates, </span>loan<span> limits, terms, and conditions of </span>private<span> student </span><span>loans</span>
I think the answer is A federal loan is only available for students who show a need. A private loan is available for any student who meets the bank’s lending standards.
