Student Loans are No Joke!


The Good

Most students, regardless of their income or their parent’s income, may qualify for a federal direct student loan offered by the Department of Education.

Federal Student Loans historically offer lower interest rates (as compared to a private student loan) and better repayment options.

The options for repayment are income-contingent, income-based, or pay as you earn. There may be options for delaying repayment, which are forbearance and deferment.

The Bad

Student loans are just that--loans that have to be repaid. In most cases, your grace period will expire or your repayment will begin:

  • six months after you graduate
  • when you drop below half-time
  • when you drop out of school

The Ugly

Defaulting on a federal student loan will drastically affect your credit and getting a job.

Get more info about student loans at