Stafford loan has a low fixed interest rate and there is an annual loan limit. Two types of Stafford loans are available.
Subsidized: based on a students’ financial need.
Unsubsidized: based on students’ eligibility.
The loan is similar for both graduate and undergraduate students, but the only difference is that the graduate students can borrow much more than undergraduate students under this type of loan.
Private Loans
This type of loan is entirely different for both undergraduate and graduate students. Undergraduate students are approved for this loan only if there is a cosigner. However, if the requirement met, they can cover up to their entire cost of education under this loan.
On the other hand, graduate students can apply for this loan with or without a consigner. How
Tags: Loans, Undergraduate Loans