Benefits of Stafford Loans

Before you go out and spend money on a credit card for books, or go to an instant cash service, check out the benefits of a student loan.

You have a lower interest rate, capped at 8.25% (currently 6.8%). Credit cards are at least 16% for people with excellent credit and upwards of 30% for some people with poor credit. Cash services can have as much as 100% interest. Regardless of your credit, you repay less with a student loan.
The loan in guaranteed. Credit cards are and private loan lenders check your credit rating to qualify you for a loan. The only requirement for a student loan is financial need.
You do not need to worry about repayment as long as you are enrolled half time in school.
There are programs for loan forgiveness to teachers and qualified child care providers. These programs will pay off some of your student loans for you as a benefit for entering that particular job field.