Borrow Money from the Government
Taking out a loan, or borrowing money, is one way to make your college education affordable.
However, unlike grants and scholarships, a loan is money that must be repaid with interest. If you apply for financial aid, you may be offered loans as part of your financial aid offer.
Student loans can come from the federal government or from a private lender such as a bank, credit union, or state agency. Federal Student Loans are from the U.S. Department of Education and usually offer borrowers lower interest rates and have more flexible repayment options. To apply for a Federal Direct Student Loan, visit studentaid.gov.