Student Loans

Apply for financial aid to see if you qualify for federal student loans.

Yes. Apply for financial aid to see if you qualify for federal loans. Just an FYI though, the interest rates are really high. You can also go to a bank and apply for a student loan to see when your interest rate will be. Credit unions have lower interest rates but a lot of the time they do not offer student loans.

Your credit history doesn't matter for Federal loans as long as you have NOT defaulted on a federal loan or owe the government money. For loans from banks- it is completely dependent on your credit history.

Yes. Apply for financial aid to see if you qualify for federal loans. Just an FYI though the interest rates are really high. You can also go to a bank and apply for a student loan to see when your interest rate will be. Credit unions have lower interest rates but a lot of the time they do not offer student loans. Your credit history doesn't matter for Federal loans as long as you have NOT defaulted on a federal loan or owe the government money. For loans from banks- it is completely dependent on your credit history.[/quote']

Interest rates are actually quite low on federal loans now at about 3.5-7% depending on the loan type per http://studentaid.ed.gov/types/loans/interest-rates . The rates have actually fallen quite a bit in the last few years. Obtaining a loan from a bank would be considered a private loan and thus the interest rate is a bit higher (mine is 4.99%).

OP, I would definitely recommend filling out the fafsa to see what you qualify for and then contact your school's financial aid office after the fafsa is processed. They will be able to guide you based on what is available to you. I would only use private loans as a last resort as the interest is generally higher than federal loans. I ended up getting a private loan because I am no longer eligible for federal funds and I do not qualify for grants because I work and make a halfway decent living.

Do the FAFSA, and talk to the financial aid office at your school to find out what the procedure is. Do federal loans over private.