Why Myfedloan better than other private student loan ?well, there are many reason why you should choose fed loan! first of all, fed loan mean federal loans, it mean government give some money to them(funding), so they can give some loan to people that need money for education! and it can be no interest at all for that company! you can said free money from government! so that's why! most federal loan are low interest rate, and also have real forgiveness loans , for a student that qualify their standard.
if we talk about federal loan, it can be loans for any type! e.g student loans, car loans, home loans or mortgage loan! but since myfedloan are specialize for education industry! so, if you need student loans, you should try them! because you can get lowest interest rate, and also clear regulation and no cheat or unseen rules! and most federal loan, usually have specials program for default or loan forgiveness!
But since we all know not everyone will qualify to meet their standard, most of the time you will failed to get loan approval from fedloans union such as Myfedloan! at least if you go to private school! your chance will decrease! because most federal student loan, are work in state university! but it doesn't mean federal university! because university that funded by federal, most of the time are intended for military people! so the question is, why I have to do, to get approval federal student loan ?
well, there are many ways! you can do to get approval from any kind of federal loan! the most common way, that most people do, is by going to state university! because most of them have student loans program! and you can ask them whether they have student loans program or not! if they have! you must go to that university! but not many people will go to states university because they only have limited seat! meanwhile the application are quite a lot! so you have to real good and smart! to pass the test!
The second way is by join army! Good news is military program usually will give money or fund to the personnel that want to go college!something like fee tuition or even free college to federal university! for some people that have a lot of debt student loan, they will choose to join army! but there's a regulation, if you can't pay the debt, then you can't join the military! but some people that have 100 thousand USD debt student loan, he join the military program, and government pay his debt! but of course, it will happen only if you have good grade, and degree to convince military to clean up your debt!
But the whole point of getting federal loan, are simply because you have good grade! and if you have good academic score, you can apply for Government student aid! and if you not get student aid, most of the time, they will offer federal student loan that have low interest! but if you smart enough to convince them, I am sure you can get student aid! so the key factor to get loan or student aid is to focus on your study and try to get good grade in you school! and then try to get student aid from government program! cause it can save your money a lot!