 TITLE: How to Find Scholarships to Pay for College CONTENT: How to Get Student Loans if You Need Them\n-----------------------------------------\nEven after valiant efforts to get scholarships and pursue other ways to avoid student loans, you may still fall short. If this happens, you may choose to borrow money to cover your remaining expenses. While it's not ideal, it's preferable to ending your education, and there are some steps you can take now to avoid paying more in the future.\nFor starters, it's almost always a better idea to borrow using federal student loans instead of private student loans. Even if you can get a lower interest rate on a private loan, federal loans come with several perks, including:\n*   Student loan forgiveness programs\n*   Loan repayment assistance programs through federal agencies\n*   Income-driven repayment plans\n*   Generous deferment and forbearance options\nYou may also qualify for other benefits as a federal loan borrower. One big example is the moratorium on student loan payments and interest put in place by the Department of Education and later legislation in response to the coronavirus pandemic. Another is the potential of federal student loan forgiveness by executive order, which has been floated as something that may happen in the future under President Biden.\nAll things considered, unless you're confident you won't need any of these perks and you have excellent credit and a solid income, you're likely better off with federal loans.\nIf you're planning to borrow money to pay for school, here are some things you can do to limit the burden:\n*   Fill out the FAFSA to see if you qualify for subsidized loans, which don't accrue interest while you're in school.\n*   If you don't qualify for subsidized loans, consider making interest-only payments while you're in college to avoid having the interest capitalized, or added to your original balance, upon graduation.\n*   Choose an inexpensive school to begin with, or transfer to one if you're already in college and need a less expensive option.\n*   Create a budget to control how much you spend every month.\n*   Avoid borrowing more money than you need.\n*   Look for other ways to avoid student loans, such as working part or full time and applying for grants. END