Jackson is a high school student looking into student loan options. He asks his high school guidance counselor whether it is best to apply for a student loan with a shorter-term, a longer-term, or a lower interest rate. How should the guidance counselor respond to Jackson's inquiry? Select the correct answer below: Student loans with a longer-term are better because they provide the student with a longer time in which to pay off the loan. Student loans with a lower interest rate are better because they require a lower amount of interest to pay off. Student loans with a shorter-term are better because they allow for interest to accrue for a shorter amount of time. There is no one best type of loan for all students