Question
What is the main benefit of taking out a federal student loan instead of a private loan?
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.
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.
Answers
GPT-4o mini
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.
**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.