What should I know about private student loans?
The first thing you should know is that these loans differ by lender and type of loan. This can make them more complicated to understand compared to federal student loans. It's very important that you understand the terms of the loan and have your lender answer any questions that you have.
What if my son will be applying for financial aid?
Your son's school will more than likely include student loans as part of his financial aid package. These could be federal or private loans.