Unless you have a scholarship or grant, it’s very likely you’ll need a student loan to attend college. How much will you need to borrow? That depends on the school you attend and whether or not you have other funds to draw from – such as savings or income from a job. Your college loan options range from federal student loans to private loans from a financial institution. Federal options include subsidized and unsubsidized loans. These loans help cover the costs of tuition, books, supplies, and room and board. There are borrowing limits based on the loan type and whether you are an undergraduate or graduate student. The advantages of federal loans include flexibility in repayment plans and possibly even some loan forgiveness based upon your job. You can apply for federal student loans for free at fafsa.gov. For detailed information about federal student loans and your options, visit studentaid.ed.gov. Another option is to take out a private loan through your financial institution. These loans can either help cover education costs or expenses that exceed federal student loan amounts. No matter which type of student loan you choose, you are borrowing money, with interest, that needs to be repaid. It’s important that you know what your repayment responsibilities are and when your payments begin. Remember to make your payments on time and in full. Evaluating all of your savings and loan options based on your individual needs is the first step to safeguarding your financial future.