Student Loan Options

Paying for college and deciding to take out student loans can seem overwhelming at first. Understanding the difference between federal and private student loans is the first step in making the right decision and getting the best financing for your education.

It's important to remember that student loans are debts that must be repaid. For most student loans, repayment will begin after you’ve graduated, left college or dropped to less than half time.

Federal Loans

To find out if you qualify for any federal student loans, you will need to complete the Free Application for Federal Student Aid (FAFSA). The results of the FAFSA will be shared with the schools you list on the form, and those results will allow your school to award you financial aid. After exhausting all other sources of financial aid, federal student loans can help you achieve your goals of earning a postsecondary education.

The FAFSA and EZ FAFSA are free forms that may be completed without professional assistance via paper or electronic forms provided by the U.S. Department of Education.

Private Loans

Private student loans can help to bridge the gap between any government student aid you receive and the amount needed to attend your school of choice. Applying for a private student loan should be considered only after you have exhausted all federal student loan options.