Federal loan consolidation

Student Loans: Federal Stafford, Federal PLUS, Alternative, and Federal Consolidation LoansMany students and their parents have found Federal Stafford (student loan), Federal PLUS (parent loan), and alternative loans (also known as private student loans) to be attractive alternatives to depleting their savings, using current income or borrowing against their home equity when grants and scholarships do not cover all costs. If you've already graduated, combine multiple payments into one with a consolidation loan.Alternatively, if you are studying to become, or are currently working as, a primary care health professional, competitive loan repayment and scholarship programs are available through the National Health Service Corps. The Federal Undergraduate Stafford Loan is a simple interest, government guaranteed, no collateral loan. The interest rate is a fixed rate of 6.8%. Students may borrow while in school and begin repayment six months after leaving school or graduating.Subsidized vs. UnsubsidizedDepending on your level of financial need, you may be eligible to borrow a “Subsidized” or an “Unsubsidized” Stafford Loan, and in some cases, both. With Subsidized Stafford Loans, the government pays the interest that accrues on the loan while you are enrolled, during your six-month grace period, and during deferment. Your school of attendance will determine your eligibility for these loan types.