Just as no two students are the same, student loans are not one-size-fits-all. Learning your student loan options sooner rather than later can help you make informed borrowing decisions. Fortunately, Fastweb provides plenty of student loan help from borrowing options to repayment planning.

How Student Loans Work

Student loans have a bad rep but, the truth is, they exist to help students achieve their educational goals. Taking on student loans doesn’t have to mean a lifetime of student debt. It’s important to never borrow more in student loans than you can realistically repay. Also, make sure you know what you’re signing up for and that you learn how to handle your student loan payments.

Types of Student Loans

There are two types of student loans: federal student loans and private student loans.

Federal student loans come in two forms: subsidized and unsubsidized. Subsidized student loans are given to students with financial aid need and the federal government pays the student loan interest while a student is in school. Unsubsidized student loans are available to all students, regardless of financial need. However, students with unsubsidized student loans are responsible for paying all interest on their loans. In order to be eligible for both federal student loan options, students must submit a Free Application for Federal Student Aid (more commonly known as the FAFSA).

When federal student loans aren’t enough, students can investigate private student loan options to help pay for college. Taking on student loans is a big commitment that should not be taken lightly. Remember, you must repay whatever you borrow – with interest. This is a decision that will impact your future for years to come, so make sure to do thorough research before signing on any dotted line.

Look to Fastweb to help you make informed financial aid and student loan decisions.