Are you aware of federal student loans? What distinguishes federal loans from private loans?
All federal student loans and parent loans are funded by the federal government.
Okay. How else do they differ?
As I've mentioned before, federal student loans are made by the federal government with terms and conditions that are set by law. Private loans, on the other hand, are made by private organizations such as banks, credit unions, and state-based organizations. Their terms and conditions are set by the lender.