If you are thinking about taking out student loans, look into the option of Direct Loans. Unlike private student loans, the lender of student direct loans is the U.S. Department of Education instead of a bank or other financial institution. These loans usually have lower rates.You borrow directly from the federal government and only need to contact on Direct Loan Servicing Center.
There’s no need to call different servicing centers even if you receive the loan at different schools. You will have online access to your Direct Loan account. Here comes the best part of these loans which is that you can choose from several repayment plans and you can switch repayment plans if your needs change. For example, if you lose your job and need to modify your repayment amount.
Source: US Department of Education