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What are some popular providers of student loans?

A:

Quick Answer

The federal government, Sallie Mae, Nelnet and Citizens Bank are popular providers of student loans. These are four of the top student loan providers that have received praise from consumers and financial aid websites, according to Investopedia.com.

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Full Answer

The federal government offers subsidized loans that are cheaper and are usually the best option for low and middle income students and families to pay for college. Subsidized loans have rates and repayment terms that are better than the private sector, such as loan forgiveness programs, deferment and forbearance.

Sallie Mae provides federal and direct loans and flexible repayment programs for parents, graduates and undergrads. The website has encryption protection and a loan calculator that lets borrowers calculate their repayment programs.

Nelnet has a website with resources and tools that assist borrowers in finding out about their finances and gives them the information needed to help them choose the loan that is best for them. The tools it offers include budget sheets, tips on how to stop identity theft and general money management education.

Citizens Bank has a user-friendly and easy-to-understand student loan webpage. It offers students and parents private and federal loans at the graduate and undergraduate level. It has several payment options, but it does not provide loan consolidation.

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