Do you need money for school? If so, several Federal student loan options are available to you. Upon graduation from high school, many students explore different ways to pay for college. Some apply for grants and scholarships, whereas the vast majority takes advantage of Federal and private student loans.

Whether you're looking for funds to pay for graduate or undergraduate studies, a Federal student loan is your best bet. Since these loans do not require a credit check, anyone can qualify (good credit, bad credit, no credit, etc.) What's more, applicants normally enjoy a low, fixed rate. Private student loans do not offer these convenient features. To qualify for such loans, students must have good credit. In addition, private loans carry higher rates.

If you want to apply for a Federal student loan, contact your school's financial aid department. Federal loans are not based on financial need. Thus, anyone can obtain a student loan. Simply complete the form, await final approval, and your university or college receives the funds. The money is applied to your account. And the best part...if there's any money left over after your tuition is paid - the school will mail you a check for the excess. Use the extra money to buy books, supplies, etc.

Repayment on a Federal student loan doesn't begin until six to nine months after graduation. Plus, graduates can take advantage of several hardship provisions such as forbearance or deferment.