Question

One reason a student may seek a federal student loan instead of a private student loan is that

o private loans carry a higher interest rate than federal loans.
federal loans are obtained by banks, while private loans are backed by the government.
federal loans must be paid back more quickly than private loans.
private loans are only available to parents, while federal loans may be issued to the student.

Answer 1

advantageous because they generally have the lowest interest rates and don't require a credit check

Step-by-step explanation:

Federal student loans are advantageous because they generally have the lowest interest rates and don't require a credit check. These loans can be subsidized or unsubsidized. To receive a subsidized loan, you must demonstrate financial need.