Types of education loan

There are two types of education loans: federal and private. Federal education loans are backed by the government, while private education loans are not.

Federal student loans:

1. Stafford Loans: Subsidized and unsubsidized loans for undergraduate and graduate students with low interest rates and flexible repayment terms.

2. Perkins Loans: Low-interest loans for undergraduate and graduate students with exceptional financial need.

3. PLUS Loans: Unsubsidized loans for parents and graduate or professional degree students with low interest rates and flexible repayment terms.

Private student loans:

1. Wells Fargo Student Loan for Undergraduate Students: Fixed and variable rate loans with no origination fee and flexible repayment options.

2. SunTrust Private Student Loan: Fixed and variable rate loans with competitive interest rates, no origination fee, and flexible repayment options.