A. There are pluses and minuses for each student loan.
Private student loans could have fixed rate as low as 4% for borrowers with good credits, the caveat? Parents are often asked to co-sign. This put lots of risks on the parents' shoulders, because any default by the students, parents will be asked to step in to pay the lenders, it's nearly impossible to get the loan discharged by the bankruptcy court. Also, private loans are not discharged if the student passes away or disabled. If the student couldn't find a job after graduation, private loan lenders are not required to provide deferment, although many firms do offer short-term relief.
Private loans do come with an advantage - some will cover costs not covered by Federal student loans.