It can be confusing when you need to apply for student loans but it does not have to be. A student loan is just money you borrow that you have to pay back with interest. The sum you borrow is the principal. Interest is a percentage of the principal you pay for borrowing. You pay back the interest and principal monthly. If you do not pay, you face government penalties. To apply for student loans you need to fill out an FAFSA form. You will need information from your federal tax return. Some schools may require you to fill out additional forms. You will have to check with your particular school. You will be notified if you qualify.

There are two types of student loans, The Stanford Loan and the Plus Loan. Students can apply for the Stanford Loan and parents can apply for The plus Loan. There are different types of loans. These are deemed private and student loans. The federal loans include Perkins Loans, Plus Loans and Stanford Loans. The private loans carry a variety to choose from too but Stanford seems to be popular. If you want to apply for a loan and you know that your credit is, suffering there is still hope for you. There are student loans for people with bad credit. These are cost effective loans with minimum interest rates. The government feels that this will aid more high school students in attending colleges.

The fact is that lenders are actually giving student loans for people with bad credit more than for regular loans. They understand that students are just trying to get ahead and get that fantastic job. Lenders feel that once that job is obtained re-payment will not be an issue. The lenders also know that the government's part in these loans makes the borrower pay regardless of the situation. The lenders understand the risks but it is also a way for the student to right their wrongs and invest in a more favorable future, which benefits everyone. The fact remains that because of economical, social, emotional or other disadvantages students will have to apply for student loans. With the qualifying rate as good as it is, these students can attend school with their peers and get the education they deserve.