Have you decided to return to school? Investing in yourself is money well-spent, as it can lead to personal growth and the potential to increase your income with honed skills and new degrees. But how do you plan to finance it?

The way you choose to fund your education can either help you toward your goal or hamper it. Here’s how to choose between federal student loans and private student loans by asking yourself some simple questions.

What are federal vs. private student loans?

When it comes to financing your education, you’ve got two options for borrowing, broadly speaking: federal student loans and private student loans. Let’s quickly define each.

Federal student loans