ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A federal student loan is provided by ____
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Private companies
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The state you live in
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US Federal government
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Investors
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Explanation:
Detailed explanation-1: -Federal student loans are made by the government, with terms and conditions that are set by law, and include many benefits (such as fixed interest rates and income-driven repayment plans) not typically offered with private loans.
Detailed explanation-2: -A federal student loan is money borrowed from the federal government to help pay for your education, that must be repaid with interest.
Detailed explanation-3: -Only the student is obligated to repay these loans. Parents are not responsible for repaying their children’s federal student loans and cannot cosign these loans. If the child defaults on a federal student loan loan, only the child’s credit is ruined.
There is 1 question to complete.