| Going to college is expensive. Unless you have a trust | | | | financial aid office and find out if you need to complete |
| fund or parents who can afford to pay your schooling, | | | | any other forms. Some schools require that you |
| you would have to find a way to pay your tuition. Of | | | | complete the College Scholarship Service's profile |
| course, the other option is to not go to college at all. | | | | application. While filing the FAFSA form doesn't cost |
| However, if you are set on going to college and getting | | | | anything, filing the College Scholarship Service's |
| a degree, you will need to find ways to pay your | | | | application form costs a small fee. |
| tuition. One of the things you can do is apply for a | | | | Student loan interest rates are either subsidized or |
| student loan. If you are just starting out, finding a | | | | unsubsidized. If you get approved for a subsidized |
| student loan can be a tedious process. You need to | | | | student loan, the interest rate will not accrue while you |
| find the student loan that suits your particular needs | | | | are enrolled or someone else would be paying your |
| and financial position. | | | | interest rate. With a subsidized student loan, you can |
| There are two main types of student loans: the | | | | concentrate on studying and getting your degree. |
| federal student loans and private student loans. The | | | | Basically, with this type of student loan, the interest |
| government backs federal student loans. What this | | | | won't be adding to the principal while you are finishing |
| means is that the institution that lends you the money | | | | your studies. |
| is guaranteed to get the money they lend you back | | | | On the other hand, with an unsubsidized student loan, |
| from the government. Because of this guarantee, | | | | interest will accrue while you are going to school. If you |
| interest rates on federal student loans are low. | | | | do not pay the interest, it will be added to your principal |
| Private student loans, on the other hand, are not | | | | amount or balance your borrowed. As a result, your |
| government-backed. The interest rates are variable | | | | debt increases and can take a longer time to pay off. |
| and higher, and primarily depend on the borrower's | | | | A few student loans you can check out are: PLUS |
| credit worthiness. | | | | loan, Stafford loan, International Student loans, Study |
| To be approved for a federal student loan, you must | | | | Abroad loans, Act Educational loans and College |
| complete the FAFSA form. Go to your school's | | | | Loans Solution. |