To cover tuition and fees at a college or university.

To provide living expenses for students.

To help students purchase textbooks and other educational materials.

To cover the cost of transportation to and from school.

Direct Subsidized Loans

Direct Unsubsidized Loans

Direct PLUS Loans

Perkins Loans

Subsidized loans have a lower interest rate than unsubsidized loans.

Subsidized loans do not require repayment until after graduation.

Subsidized loans are only available to students with financial need.

Subsidized loans are only available to undergraduate students.

$10,000

$20,000

$30,000

$40,000

Immediately after graduation

Six months after graduation

One year after graduation

Two years after graduation

10 years

15 years

20 years

25 years

A repayment plan that bases monthly payments on a percentage of the borrower's discretionary income.

A repayment plan that extends the repayment period to 20 or 25 years.

A repayment plan that allows borrowers to make smaller payments while in school.

A repayment plan that forgives the remaining balance of the loan after a certain number of years.

A program that forgives the remaining balance of a student loan after 10 years of service in a public service job.

A program that allows public service workers to make smaller payments on their student loans.

A program that provides public service workers with loan cancellation benefits.

A program that helps public service workers refinance their student loans.

Make extra payments whenever possible.

Refinance your loans to a lower interest rate.

Apply for loan forgiveness programs.

All of the above.

To combine multiple student loans into a single loan.

To lower the interest rate on student loans.

To extend the repayment period for student loans.

To make student loans more affordable.

Lower interest rates

Simplified repayment

Improved credit score

All of the above

Loss of certain loan benefits

Potential increase in total interest paid

Longer repayment period

All of the above

Federal student loan borrowers

Private student loan borrowers

Both federal and private student loan borrowers

None of the above

Contact your loan servicer

Apply online through the National Student Loan Data System (NSLDS)

Both of the above

None of the above

Student loan consolidation combines multiple loans into one, while student loan refinancing replaces existing loans with a new loan.

Student loan consolidation is only available for federal loans, while student loan refinancing is available for both federal and private loans.

Student loan consolidation typically has lower interest rates than student loan refinancing.

All of the above