Depending upon the student it can either be a very good life or it can be a dogs life. It all depends on how you are currently living or how are your expenses fairing up to the money available to you.
Sometimes all the students do not have enough money to cover for all the expenses and that is where a need for loan can come up. Different need ask for different loans. Therefore we can sometimes have multiple borrowings.
A student may take loans from any of the two sources of loans.
Federal loans these loans are offered by the government authorities and hence are cheaper than other loans.
Private loans these loans are offered by private authorities and are a little expensive than federal loans.
A student has different needs and to meet them a student may have to take different loans. For example
To cover for the tuition fees that all the students have to pay as part of their courses.
To pay the hostel fees that some students have to pay who live away from their home.
To pay for the expenses those are a part of students life and other petty expenses.
If you have taken this loan and you are not been able to pay...