Federal loan programs offer the same interest rates to all borrowers in the same category, no matter their credit scores. (lendedu.com)
You lose the protections and options you would have had under federal loan programs (reducing your payment or obtaining forbearance and deferment is not an option with private funds). (supermoney.com)
Many colleges and universities also require exit counseling to inform their graduates of the repayment options available through federal loan programs. (elfi.com)