Interest-free loans for college students exist. Finding them may take some legwork.
These loans typically aren’t designed to cover the entire cost of college, but for some students, they could be a good way to fill funding gapsWhen it comes to paying for college, interest-free loans often fall under the radar. But for some students, they could be a viable alternative to costlier private student loans.
Interest-free loans tend to be for smaller amounts, so they aren’t meant to cover the entire cost of college. They may, however, be useful for students who have exhausted opportunities for scholarships and grants and have reached the annual borrowing limit for federal student loans. For dependent students, that limit is $5,500 for a first-year undergraduate,...
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