Student Loans With The Lowest Interest Rate

Q: I have a son who is going to be getting ready to attend college. He will need to get student loans to cover the costs, since unfortunately we are not in a financial position to help him, however I want to make sure he gets the best student loans possible. What are the student loans with the lowest interest rate?

A: The student loans that will offer the lowest interest rates and best repayment terms are going to be federal student loans. There are a few different types of federal student loans available, which you can learn more about by viewing our Federal Student Loans Section. To apply for federal student loans, one will need to file a FAFSA. The FAFSA is the Free Application for Federal Student Aid, and is your gateway to federal student loans and federal grants.

In addition to federal student loans, it will be important to exhaust all of the free money options available for college. Free money options for college most commonly come in the form of scholarships and grants. There are thousands of different grants and scholarships available to college students; the trick is simply taking the time to find the ones applicable to you and applying for them. Free money options for college are great; because unlike student loans you will not have to repay the money you receive. To find more information on scholarships or to begin searching for scholarships visit our Easiest Scholarship Search Ever.