The five main benefits of federal loans over private loans vary. One benefit of having a federal loan is you won’t have to pay them until after you graduate. Second benefit is that you do not need a co signer. Another benefit is that you will not get a prepayment penalty. This just means if you pay after the term,you won’t get a penalty. Fourth reason is that if you pass away or become disabled,your loans will be stopped. Last benefit is that most federal loans do not require a credit check. This is important because not all people have a credit check. Private loans are the opposite of this and are more expensive and stressful. Federal loans=bigger benefits
