Student loans available under federal programs have very attractive terms when compared to most borrowing options — lower interest rates that are set by the government, the ability to postpone making payments, longer repayment terms, and less stringent credit requirements.

For a better understanding of federal student loan options, select one of the following:

• Federal Stafford loans
• Federal Perkins loans

Parents should be sure to check out the Parent PLUS federal loan.

Students and parents should always maximize federal loan offerings before investigating alternative student loans.

Federal student loans are step 2 in Sallie Mae's 1-2-3 approach to paying for college^SM.