They are available from federal and private sources, and the terms of the loan may vary. With federal student loans, you may get lower interest rates and have access to more flexible repayment plans. Private student loans may offer more options for students seeking higher loan amounts, but may also have higher interest rates and fewer borrower protections. When considering a student loan, it’s important to understand how much money you will need to borrow and what the repayment terms are. To get the best deal, shop around and compare different loan options. You should also consider any fees associated with the loan, as well as the interest rate and repayment terms.