Should You Get Private or Federal Student Loans?

Not all student loans are the same! Financial expert Ross Mac explains why federal loans are usually the better option.
Choosing between federal and private student loans can be confusing, but knowing the difference can save you money and stress. On this episode of The Finance Couch, financial expert Ross Mac explains why federal loans are often the smarter choice. Federal loans come from the U.S. government and don’t require a credit check, making them accessible to students just starting out. They also typically offer lower interest rates and better protections, like flexible repayment plans. Private loans, on the other hand, come from private lenders and often have higher interest rates and fewer benefits. If federal loans don’t cover all your expenses, private loans can fill the gap, but they should be a secondary option.