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Education loans are available from banks, credit card companies, and other private sources. Federal loans offer advantages, however, such as lower interest rates that are fixed for the term of the loan, deferment options for students who return to school, flexible repayment plans based on borrowers’ income, and loan forgiveness for graduates who perform certain types of public service or are employed in certain occupations. Unlike other forms of debt, student loans cannot be discharged through bankruptcy, except in rare cases of undue hardship. (Opposing Viewpoints)