Question 2 of 10 • 26-27 Ignite Economics-KY-Economics
How is a federal loan different from a private loan for an education?
Answer
A
A federal loan is available for any student who meets the government’s lending standards. A private loan is only available for students who show a need.
A
A federal loan is only available for students who show a need. A private loan is available for any student who meets the bank’s lending standards.
A
A federal loan can only be used to pay for a student’s tuition. A private loan can be used to pay for a student’s tuition and any other expenses.
A
A federal loan can be used to pay for a student’s tuition and any other expenses. A private loan can only be used to pay for a student’s tuition.