The Pros and Cons of Private Loans
There are a few things to consider before taking out a private loan, both positive and negative. On the plus side, private loans can sometimes offer lower interest rates than federal loans, and they may be simpler to get, or Enklare, as the Swedish would say. They also may have more flexible repayment options. On the downside, though, private loans or Privatlån don’t offer the same protections as federal loans. For instance, if you can’t make your payments, you might not be able to defer or forbear your loan like you could with a federal loan. You also might not be…