Okay, nothing is really cheap. Student loans are not exactly cheap and neither is college. But shopping around for the best terms for a student loan is certainly worthwhile. A college degree puts you light years ahead of those that don't have one. If you must get a student loan to finish college, do it!

The first thing you need to to go through the federal government. Make sure that you have filled and filed the free application for federal student financial aid. Anyone who successfully completes and files the form can get a federal student loan. Depending on your circumstances, you can borrow from $5,500 to $12,500 per year from the Stafford Student Loan Program. If you qualify as a low income student, you won't have to pay interest while in college. The interest rate varies, but there is a max. The federal government will allow money to be loaned with an interest rate that is about as low as you can get with little or no effort. You can even shop around and compare banks and lending institutions to get the best offer. Some will waive fees and other charges. Again, these are backed by the federal government, so you will get a loan. PLUS loans are for your parents to borrow money for your education, but the interest rate is much higher, and your parents will need to qualify for the loan. It is not automatic. But shopping around for the best terms is possible as well. If you are already enrolled and attending college, a PLUS loan can get you through. But it is up to your parents to apply and there is a possibility they wil be turned down.

Find out if your college or university offers loans to students. These are normally for a much smaller amount than federal programs, but normally have more lax terms to qualify. You may actually consider whether the college loans money in choosing where to go to school. Schools may offer Perkins Loans that are indeed backed by the federal government. But they have a limited amount to hand out. Apply early!

Do a web search for charitable student loans with no interest. Many companies and charities have sprung up to help college students with low interest loans. Chances are they won't charge you a dime of interest while in college.

Maybe you have never thought of just walking into a bank and asking for a loan. But there are many private banks that will loan money for a college education. The interest rate wil be higher and you will need to pass a credit check with a good FICO score. But hey, getting money for college is your top priority. The application process will be lenghty, so start early. Also your parents are probably the ones to try for one of these. If you can get a part time job, you can promise to help with the payments.

There are also many organizations that will make interest free student loans. Just do a web search for "interest free student loans." The web is also a good tool for finding all types of free college money!

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