Types of Credit: Understanding Student Loans

If you're considering a student loan to help you manage the financial costs of your education, you're certainly not alone. In 2019, there were almost 45 million student loan borrowers who collectively owed more than $1.5 trillion dollars in the United States. Let's talk about how student loans work so you can be prepared to handle one. In this class, we'll discuss how scholarships and grants work and how to fill out a Free Application for Federal Student Aid, or FAFSA. We'll go over the four federal loan types, who qualifies, how they're paid, and what to do if you don't qualify for federal loans. Lastly, we'll go over paying back your student loans.

Keywords: financial literacy, finance, financial, types, credit, types of credit, HSI-ej4