Students who took out federal loans to fund their education enjoy several exclusive privileges that are otherwise absent in private loans. For instance, federal student loans come with a predetermined interest rate and provide debtor safety. Moreover, these loans also have the provisions to grant deferment and forbearance, in case a student defaults on loan payment due to sudden financial crisis. However, it should be noted that students with Parent Plus loans or Perkins Loan cannot opt for the debt … Continue reading →