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Student Loan vs Personal Loan for College Expenses | SoFi Federal student loans come from the government and offer perks like fixed interest rates and income-driven repayment plans, all set by law Personal loans are issued by banks and other financial institutions with terms set by the lender, typically making them more expensive
Personal vs. Student Loans: What’s the Difference? A personal loan is an unsecured installment loan that can be used for any purpose, while a student loan is designed specifically for education expenses Personal loans and student loans differ when it comes to eligibility, interest rates, repayment rules, and tax benefits
Student Loans vs. Personal Loans: Making the Right Borrowing Choice When it comes to financing your education or handling various expenses, the choice between student loans and personal loans can be a critical decision Each option offers distinct advantages and may be more suitable in specific scenarios
Student Loan or Personal Loan | Equifax Federal student loans are often an ideal choice for college They offer lower interest rates and flexible repayment options To get a federal loan, you must fill out the FAFSA ®, and most students qualify but there are some exceptions Private student loans and personal loans are harder to get
Best Private Student Loans of January 2026 - NerdWallet Compare our top-rated private student loans from multiple lenders to find the lowest interest rate Choose private loans only after you've exhausted federal financial aid
Student Loans vs Personal Loans | Edvisors There are federal and private student loan options available to help you cover the costs of college Federal student loans are financial aid options offered by the federal government to help make college more affordable for students and their families
Student Loans vs. Personal Loans | ConsumerAffairs® Relatively low rates: Student loans have lower rates than personal loans, especially for good-credit borrowers Flexible repayment options: Some lenders allow you to choose from a wide range