An education beyond high school is an investment in your future.It can be expensive and often requires you or your family to take out loans to help pay for it.

Private loans also do not offer the opportunities for cancellation or loan forgiveness that are available on many federal loan programs.

So it makes good financial sense to exhaust your federal loan options (as well as grants and scholarships) before considering loans from any private companies.

To learn more about federal government loans, visit Student

If you are considering a private student loan, it’s important to know whom you’re doing business with and the terms of the loan.

Private companies may offer you loans and other forms of financial assistance for your education.

They often use direct mail marketing, telemarketing, television, radio, and online advertising to promote their products.

Paying for your education is a serious long-term financial obligation; that’s why comparing the costs of different ways of financing your education is so important.

Private loans tend to have higher fees and interest rates than federal government loans.

The FTC and ED offer these tips to help you recognize deceptive private student loan practices.