Given the rising cost of college, many students have no choice but to borrow money to finance a degree. And when it comes to taking out student loans, you have choices: You could borrow privately for college or limit yourself to federal student loans. You could even sign up for a combination of both.

But while taking out private loans might give you the flexibility to borrow more money for college than federal loans, there are drawbacks to going this route. And it's important to recognize them before committing to private loans.

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Source Fool.com