Online Student Loan Guide: Overview of Options

Online guides provide a wealth of information on the student loan process, including what types of loans are available, how much money can be borrowed and how to repay any money borrowed. Additional information includes loan conditions and requirements and how to reduce the overall costs of college.

Where Can I Look Online to Find Helpful Information About the Student Loan Process?

Overview

Many reputable sites guide students and parents through the student loan process. These sites are often operated by such organizations as the U.S. Department of Education and educational associations like The College Board. Information found on these sites ranges from how to apply for student loans to tips on reducing the costs associated with getting a college education.

U.S. Department of Education

On the U.S. Department of Education's website, students and parents can find an overview of the different types of loans available, including the Federal Perkins loan, subsidized and unsubsidized Stafford loans and Direct PLUS loans. This overview includes information such as who can apply for the loans, annual borrowing limits, requirements to apply, interest rates and repayment information. Students and parents can also find information on loan conditions and requirements, such as credit history and financial need.
Other information found on the site includes loan consolidation, cost reduction, postponing or canceling loan repayments and how to complete the Free Application for Federal Student Aid (FAFSA) form.

The College Board

Much of the same information found on the U.S. Department of Education's website can be found on The College Board's website; however, The College Board provides a more in-depth information about the loan process.
Students and parents not only get an overview of the different types of loans, but they can also find information on how loans differ and how to decide what type of loan is best for them. Need-based and non-need-based loans are compared, as are federal and private or state loans and student and parent loans. The site also focuses on private education loans available from colleges and universities, banks and private foundations and organizations.
Other information available includes how to stay in touch with your college's financial aid office, what happens after you've been awarded a loan, how to evaluate financial aid award letters and tips on borrowing money for college.