🏫 College Advising

A significant difference between private student loans and federal student loans is that private loans often require which of the following for approval?

A Completion of Entrance Counseling
B A FAFSA submission
C A creditworthy co-signer
D Enrollment in an income-driven repayment plan

✓ Correct Answer: Option C

Private student loans are credit-based and often require a co-signer with good credit history, especially for students with limited or no credit history themselves, which is not typically required for federal loans.

💡 Why is C) the correct answer?

The correct answer to the question "A significant difference between private student loans and federal student loans is that private loans often require which of the following for approval?" is Option C: A creditworthy co-signer.

The other options — A) Completion of Entrance Counseling, B) A FAFSA submission, D) Enrollment in an income-driven repayment plan — are incorrect for this College Advising question. As explained above: Private student loans are credit-based and often require a co-signer with good credit history, especially for students with limited or no credit history themselves, which is not typically required fo…

📚 About This College Advising Practice Question

This 2-level College Advising question from the Financial Aid & Scholarships topic is part of BrainForge Quiz's free exam preparation library. Each question includes the correct answer and a detailed explanation to help you understand the underlying concept, not just memorize the answer.

How to use this page: Read the question above, consider all four options (A through D), then check the highlighted correct answer and explanation. For active timed practice, start a free College Advising practice test or use flashcards for spaced repetition review.

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