Federal Stafford Loans
A Federal Stafford Loan from the government is one of the most affordable options for a potential college student looking to find money to pay his/her way through higher education. Interest rates on these loans are often much lower than other options, as the current all-time low of just under 4% is very, very low. While these loans are usually fairly large, no credit check is required to receive a Federal Stafford Loan and no collateral must be put up. However, the best part of all may be that Federal Stafford Loans do not have to be paid back until after you graduate! That means one less stressor during your college years.

Federal PLUS Loans
Aside from a Federal Stafford Loan, students may also choose to bring their parents into the equation with a Federal PLUS Loan, which allows parents of students to borrow federal funds and pay college tuition. In this case, a credit check is required, but PLUS Loans allow parents to supplement any amount of money that is needed for college after other forms of financial aid are allocated to the student. Either through the use of Stafford Loans or PLUS Loans, students can use the federal government to pay off their college tuition. Though these Loans must be paid back, this is a great way to pay for college without actually having to work, in addition to your studies, while you are in college.