Question
Quiz Question 2 of 6 What is the main benefit of taking out a federal student loan instead of a private loan? Select a response. You can defer 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 have options for income-driven repayment plans, deferment, forbearance, and eligibility for forgiveness programs, which are not typically available with private loans.
Federal student loans often have options for income-driven repayment plans, deferment, forbearance, and eligibility for forgiveness programs, which are not typically available with private loans.