Federal vs Private Loan Consolidation – Which one is better

There is always the difficult choice for an undergraduate or graduate as to whether he should take out a federal loan or a private loan. Each has its own benefits and drawbacks, depending on which lending company he is going with. For example, federal loans can be tax deductible, while private loans are not. Another is that federal loans can be forgiven in all or in part if the student is performing certain kinds of service, such as military service or practicing medicine in certain kinds of communities. […]