Grants, scholarships and student employment combined may not pay for all of your college expenses. If that is the case, student loans can help pay the difference. It can be a sensible option over using credit cards or taking out higher interest personal loans. Unlike a grant or scholarship, a loan must be repaid.

There are several federally-sponsored loans you or your parents can apply for, including Perkins loans, Stafford loans, and the
PLUS loan for parents.

In addition to federal loans, you can use alternative loans to pay for your college education. Alternative loans are not insured by the federal government, are not regulated by the federal financial aid rules, generally require that you have a good credit report and often times carry higher interest rates than federal loans. While alternative loans are designed for students and generally offer lower interest rates than credit cards and personal loans, most students are better off exhausting the federal student loan options before turning to alternative loans.

ALL Student Loan, a nonprofit organization that sponsors this site, offers affordable rates and terms on student loans.

Click here to learn more about ALL Student Loan's
affordable student loans.

For tips on how to borrow responsibly, check out our
Consumer’s Guide to Federal Student Loans.

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