In order to choose the best repayment strategy, you need to know how the different types of student loans work, especially when it comes to how interest is calculated.
Watch the video to learn about the Different Types of Student Loans, then test your knowledge at the end of the lesson.
Student loans can be divided into two groups:
A. Regulated and Unregulated
B. ICR and IBR
C. Private and Federal
D. Direct and Non-Direct
Federal Perkins Loans are no longer issued, but these loans still account for more than…
A. $1 million in outstanding student debt
B. $1 billion in outstanding student debt
C. $2 billion in outstanding student debt
D. $3 billion in outstanding student debt
What type of common federal loan is issued to students pursuing an undergraduate degree?
A. PLUS loan
B. Stafford loan
C. Private loan
D. REPAYE loan