sequoiabarbee7 sequoiabarbee7

17-07-2024
Business

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Question 2 of 6

What is the main benefit of taking out a federal student loan instead of a private loan?

A. You can defer paying your loan until 5 years after graduation.
B. You may qualify for loan forgiveness after you graduate.
C. You will have a higher interest rate for a federal student loan.
D. You can pay the principal down faster on a federal student loan.

Answer :

GinnyAnswer GinnyAnswer

17-07-2024

Final answer:

Federal student loans offer flexible repayment options and potential loan forgiveness benefits that private loans may not provide.

Explanation:

The main benefit of taking out a federal student loan instead of a private loan is the availability of more flexible repayment options and potential loan forgiveness programs. Federal student loans generally have lower interest rates compared to private loans, making them more affordable for students. Additionally, federal loans offer benefits such as income-driven repayment plans and options like Public Service Loan Forgiveness (PSLF), which can lead to forgiveness of remaining loan balances after meeting certain criteria.

Learn more about Federal vs. private student loans here:

https://brainly.com/question/49064919

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