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Many people turn to the federal government to get student loans, and with good reason. Typically federal loans come at a much lower interest rate than private student loans, and they're usually easier to get. Federal loans have looser credit requirements and are sometimes subsidized for those with extreme financial needs. Having a subsidized loan means that you are forgiven for the subsidized part or don't need to pay it back. Not everyone qualifies for these types of loans but even for those that are unsubsidized, they are still typically preferred over private student loans.

However if you are unable to get as much money as you need from the federal government or prefer private student loans for whatever reason, where can you get these loans and how do you apply? Obviously banks and credit unions are the first stop for many; if you have a long-standing relationship with such an institution or have many accounts there, they may offer you a good interest rate on private student loans and may prequalify you for such a loan. But most people find that their credit requirements make these loans out of reach and may need some alternative suggestions.

If you or anyone in your family belongs to a union, they may offer private student loans to their members or the family of their members. This is a great place to start looking for loans. They may also have grants and scholarships set up for their members and families of their members as well, so when looking for loans you actually wind up getting free money for school! Another place to look for private student loans is an association you or your parents have with a lodge or other type of "club." Often the Eagles, Elks, or Moose lodges all have loan provisions for their members who are sending kids through college.

And often employers have the same provisions when it comes to private student loans. Some will pay for classes for their employees but often they have associations with banks or credit unions where they can get private student loans for an employee's family members at a reduce rate and with looser credit requirements. For those loans that need to start a repayment schedule as soon as funds are dispersed, they may arrange to have the funds withdrawn directly from an employee's paycheck so there is no worry about falling behind on payments or missing a payment, which often results in late charges and a hike in the interest rate.

There are many places where one can apply for and get private student loans; you may already have some ideas in mind but hopefully these few suggestions here will help as well. No one should be without a college education if that's their plans! So check out these other areas of financial aid and see if you qualify; you owe it to yourself and your family to pursue that diploma no matter what it takes.

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By William Coupland View William's Blog

Insider Secrets to Student Scholarships, Loans and Grants Do you have your questions and fears of funding your college education? Have you ever wondered if there was a place you could find all the information that would help you get the right aid? This guide gives you all the answers.