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The Federal Family Education Loan is comprised of Federal subsidized and unsubsidized Stafford loan and Parent loans. Federal subsidized and unsubsidized Stafford loan helps to pay a student for a college education and these are low interest loans. Federal Family Education Loan requires the repayment by the students or parents. Before borrowing the loan a student should be aware of all requirements, interest rates, repayment options and schedules. It is not encouraged to borrow by the students normally. There is a requirement of repayment over a period of time. Normally the payments begin six months after the student leaves school.
These loans are available as subsidized and unsubsidized loans. Students are provided with subsidized loans which are based on demonstrated financial need. The interest of this loan is paid by the federal government while the student is in school, during the grace period and during authorized deferment. But for unsubsidized Stafford loans, students are responsible for all of the interest that accrues while the student is enrolled in school.


Parent’s loans are called PLUS loan. These loans enable the parents to borrow for their child education expenses. But in case of this kind of loan the parent must have good credit history and the student should register at least six credit hours per term. The repayment is done by the parents not by the students. When any other financial aid of the students is subtracted from the student’s cost of attendance then it is called PLUS loan. The interest rate is always less than or equal to nine percent.