Question
Which choice is the least preferred source of student loans and why?
(1 point)
Responses
scholarships and grants that one can get easily and quickly in most cases
scholarships and grants that one can get easily and quickly in most cases
Private lenders that will likely require a cosigner and offer less flexible repayment or forgiveness plans
Private lenders that will likely require a cosigner and offer less flexible repayment or forgiveness plans
U.S. Department of Education
U.S. Department of Education
long-held savings
(1 point)
Responses
scholarships and grants that one can get easily and quickly in most cases
scholarships and grants that one can get easily and quickly in most cases
Private lenders that will likely require a cosigner and offer less flexible repayment or forgiveness plans
Private lenders that will likely require a cosigner and offer less flexible repayment or forgiveness plans
U.S. Department of Education
U.S. Department of Education
long-held savings
Answers
GPT-4o mini
The least preferred source of student loans among the options provided is:
**Private lenders that will likely require a cosigner and offer less flexible repayment or forgiveness plans.**
This choice is least preferred because private loans often come with higher interest rates, stricter repayment terms, and fewer options for deferment or forgiveness compared to federal loans offered by the U.S. Department of Education. Additionally, the requirement for a cosigner can add financial burdens to the borrower's family or friends. In contrast, scholarships, grants, and long-held savings do not need to be repaid, making them more favorable options.
**Private lenders that will likely require a cosigner and offer less flexible repayment or forgiveness plans.**
This choice is least preferred because private loans often come with higher interest rates, stricter repayment terms, and fewer options for deferment or forgiveness compared to federal loans offered by the U.S. Department of Education. Additionally, the requirement for a cosigner can add financial burdens to the borrower's family or friends. In contrast, scholarships, grants, and long-held savings do not need to be repaid, making them more favorable options.