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There are student loans, then there are private student loans and finally there are private loans, which can only be borrowed from private lenders. Private loans, such as lines of credit and home equity loans, offer students a chance to pay for their education without being limited by some of the restrictions governing normal student loans. These loans ultimately allow students borrow additional funds for expenses that may not be covered by other student loans. However, they also do not come with the same benefits associated with education loans. Here is a quick guide to deciding which type might be best for you.