Video: How do student loans work?

College-bound students will be receiving their financial aid packages within the next couple of months — and many of them will come with student loans.

But many students — even those already attending college — don’t really understand how student loans work. That’s despite nearly 70% of students graduating with student debt.

The basics of student loans

This video helps explain the basics of student loans, including interest rates, the different types of student loans and repayment options.

In addition to federal loans, the video discusses private student loans, which can be an option for borrowers who have maxed out on Federal Stafford and Perkins loans.

If you’ve already taken out student loans, you may be eligible for student loan refinancing, which can help lower your interest rate and save you money on repayment.

If you need personalized help figuring out how to repay your loans, contact our team at 1-888-234-3907 or send us a message.