 TITLE: Which Types of Student Loans Are Best? CONTENT: Which Student Loan Is Best?\n---------------------------\nThe best way to pay for school is with grants and scholarships—financial aid that you don't need to repay. But many students will need to borrow money as well.\nFederal student loans are generally the first choice for students because you can get approved regardless of your income or credit, and they offer the same interest rate to every student. Additionally, federal student loans are eligible for repayment plans and assistance programs, such as student loan forgiveness. These benefits can make repaying federal loans easier than repaying private loans.\nHowever, federal student loans have origination fees and (aside from PLUS loans) maximum loan limits based on your year in school rather than the cost of attendance.\nEspecially creditworthy students may qualify for private student loans with a lower interest rate and no origination fee, making the private route a less expensive option. A private loan may also be one of your only options if you reach the federal student loan limit and need additional money to pay for school. END