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Comparing Federal and Private Student Loans

We recommend using all federal loan eligibility before turning to private loans.

Federal student loans, such as the Federal Direct Loan and the Parent PLUS Loan, generally have more favorable terms and conditions than private loans. We recommend using all federal loan eligibility before turning to private loans.

Federal vs. Private Loans
Created by studentaid.ed.gov (click to enlarge)

We will hold the processing of a private alternative loan until you:

  1. Complete the FAFSA or,
  2. Notify us that you do not want to take advantage of federal student loan options and want us to proceed with certifying your private alternative loan.
Penn State Federal School Code

003329

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