Private or Alternative Loans: Private education loans are available to both parents and students, at higher interest rates than the federal loans. In almost all cases, a credit check and approval is required. Banks and private lenders provide student loans at relatively low interest rates. You can find lots of private lenders online.

WHAT TO DO TO GET A LOAN

At first you should fill out a Free Application for Federal Student Aid (FAFSA) form. FAFSA requires detailed data about your own and your parents’ income, your tax status, age, and the degree you want to get. The government will use that information to define your eligibility for federal loans. This form can be filled out and submitted both as a regular paper form and online. If you want to get a private loan you can find all the information about private lenders online.

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