Federal First, Private Only When You Must

Federal student loans are priced the same for every borrower in their category — the rate is set by Congress, not your credit history — and they carry protections private loans rarely match: income-driven repayment plans, generous deferment and forbearance, and forgiveness programs like Public Service Loan Forgiveness. Private loans, by contrast, price you individually: strong co-signers can land rates below federal, but most borrowers face variable rates that start higher and can keep climbing. This calculator compares the straightforward numbers — payment, interest, and total cost on the same term — but the gap it can't show is the safety net. If you might need flexibility later, the federal loan's protections are worth real money even when the rate is higher.