There are a wide variety of lending options available for students today. Student loans are available from a wide variety of federal, private and other sources. Popular student loan options include the federal Stafford and Perkins student loans and loans from private sources such as banks. The Stafford and Perkins loans are many students' first choices because of the low interest rates. Generally, students in special financial need will have access to subsidized lower interest rates.

Like any loan, low interest student loans will help keep payments lower, although be sure to check carefully the repayment schedules. Federal student loans are not always as flexible as loans from private institutions might be, although they are often easier to secure. In general, any type of student loan will be available to students that are attending at least half-time at any eligible school. The student loan can be used to cover tuition, books, room and board, transportation, living expenses and other school fees.