Are Federal Student Loans a better option for borrowing for college?
Federal student loans will provide their borrowers with many more benefits that a typical private bank loan. Some of these benefits include: lower fixed rates, cancellations for certain employment, deferment of loan payments if borrower re-enters school, other deferment options, and many income-based repayment plans. Private loans on the other hand will require a credit check prior to receiving any loans. Therefore, students and families should try to exhaust all their options with a federally backed loan before considering a private bank loan. Download PDF
The Student Loan Assistance Counsel (SLAC) is a third party provider and is not associated with any government entity including the Dept. of Education. SLAC is a private organization specializing in Document Preparation, Submission, and Tracking. We offer a free counseling session to help identify which Federal programs are available to you. Our service consists of the Preparation, Submission, and Tracking of your Federal Student Loan Consolidation Documents. Consumers are not obligated to use a third party resource and may choose to complete their own documents for student loan consolidation based on the federal programs. SLAC does not provide services for debt negotiation, debt settlement or any altering of the current debt. Our services are strictly for the assisting in the completion, submission, and tracking of federal student loan program documents.