| A friend of mine asked me "what's the best student | | | | that subsidized loans will be much cheaper than an |
| loans for college?" I had to tell him that it really is | | | | unsubsidized loan would. The payback period is a |
| dependent on what his needs were and where he | | | | standard ten years. |
| was planning on going to school. I got him moving to | | | | Federal PLUS loans are not available to students. |
| start on the internet and gave him the same advice | | | | Instead, the student's parents borrow the money, |
| I'm going to give you. | | | | which they must start paying back within 60 days, to |
| A free application for student aid is important. It is | | | | pay for the student's education. Think of these loans |
| literally your gateway to getting either low cost loans | | | | as someone with some established credit history can |
| or grants. To start this process, go to your college's | | | | help you. The near-instant repayment schedule can |
| financial aid office and they'll put you on the right | | | | make this loan option seem to be less attractive than |
| track. | | | | others. |
| Don't forget to register with the selective service if | | | | Private loans are comprise the remainder of loan |
| you are a male. You won't get any help what so | | | | options for students. These can have variable pay |
| ever if you have not. Females don't need to be | | | | back rates, such as you need to start paying right |
| concerned about this requirement. | | | | away, or the payments can be deferred over a |
| The Federal Perkins loan is what will most likely be | | | | period of time while you are still in school. They will |
| awarded if you really are in need of financial aid but | | | | generally have higher interest rates, so shopping |
| have exhausted your options with grants. You must | | | | around is essential. |
| be seeking a degree to get this loan; you won't get | | | | The best student loans for college can present some |
| it if you're just trying to take one course. Half-time | | | | daunting options, but there are things that you can |
| enrollment in school is required at a minimum. | | | | do to narrow down your choices and make smart |
| Federal Stafford loans are either subsidized or | | | | financial decisions that will let you get the education |
| unsubsidized. The good news is that they don't have | | | | that you need to get a good job and repay those |
| to be paid back until six months after you are no | | | | loans. |
| longer at least a half-time student. The bottom line is | | | | |