What is the main benefit of taking out a federal student loan instead of a private loan?

Question

Select a response.

You can deter paying your loan until 5 years after graduation.

You may qualify for loan forgiveness after you graduate.

You will have a higher interest rate for a federal student loan.

You can pay the principal down faster on a federal student loan.

Answer 1

The main benefit of taking out a federal student loan instead of a private loan is:

You may qualify for loan forgiveness after you graduate.

Federal student loans often come with borrower protections, income-driven repayment plans, and potential loan forgiveness options that private loans typically do not offer.