| Federal | Private | |
| Do you need good credit (or a creditworthy cosigner) to qualify? | No | Yes — however, some lenders have more flexibility underwriting (at the cost of higher interest rates) than others |
| Do interest rates rise when lower-credit borrowers are offered loans? | No | Yes |
| Can you borrow up to the cost of your attendance? | Not anymore | Yes — at most reputable lenders |
| Is innovation on the way? | No — besides what’s in the OBBB | Possibly — but will it be enough to serve borrowers now shut out from federal aid? |
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