While doing research on the internet on this subject I have found this question asked a lot, Do student loans work? There are several ways to answer this question but the bottom line is yes they do, it is the best way to get a higher education for yourself in this wonderful country of ours.

There are several types of loans you can look at to get that higher education you so want and need to survive in theses trying times. I will try to go over as many of them with you as I can in this short article of mine.

There are 4 different types of Federal Student Loans:

• Stafford Loans, these types of loans are subsidized or unsubsidized. Subsidized ones means you will not be charged interest on them until after you graduate or leave the school program. Unsubsidized loans the interest starts right away and goes until you pay them off.
• Perkins Loans, These types of loans you will get directly from the college or institution that you are applying for. they get the money from the U.S. Department of Education, which can be used by graduates and undergraduate students. These loans have a fixed rate of interest.
• Plus Loans, These types of loans stand for Parents Loans for Undergraduate Students, only way your parents can get this type of loan for you is if you are enrolled in school that is approved for this type of loan. You must also be enrolled for at least half of your time there.
• Consolidation loans, is usually used after you graduate so as to consolidate all your loans into one so you only have to make out one payment per month almost like when you refinance your mortgage.

After you have exhausted of all of your Federal Student Loans and you still need more money you will have to go to the private sector, which is called Private Loans. There are many companies that you can go to and apply for these types of loans. Look up Discover student loans they usually are affordable and with a low interest rate. then you have Sallie Mae and also Citi. These types of loans are based on several factors to figure out your interest rate, do you have a co-signer, signup with automatic debit payments or if you have a high credit score.

Now you can ask your self again do student loans work? In my opinion yes they really do but you have to research each and every aspect so you do not get ripped of with these loan sharks out there. Good Luck.