Hey! I'm not sure about your specific situation, but I'll just explain school loans broadly and you can pick and choose what you need from that. Assuming you are a first year student with no prior credits you will be eligible for 3,500 in subsidized (the government pays interest while you're in school) and 2,000 more in unsubsidized (you either pay or put off interest payments until repayment). This is also assuming that you are an independent student. If you are not an independent student you will not be eligible for the 2,000 in unsubsidized, and instead will need to have your parents apply for a parent PLUS loan. If they are approved, you can take out what you need to cover the gap between all scholarships, grants and subsidized loans, and if they are denied you are eligible for 4,000 in unsubsidized loans. As you increase in class standing (freshman, sophomore, junior and senior) you can take out more and more in subsidized (I believe it increases by 1,000 until your junior year, and then it caps at 6,500). As for private loans, these are a lot like a car or house loan in the sense that you will need to apply and be approved or denied. Most, if not all, private student loan programs do provide deferment of payments until six months after graduation. If you have any questions let me know, I've been through this process a lot. Haha Good luck! Alex EDIT: The school can help you apply, if you call their financial aid office. Also, if you have loan money left over they will issue a check that you can use for living expenses, but you are still capped at the limits mentioned above.