Research the different types of student loans that exist. The Internet or your school's financial aid office is a great place to start. Find out about federal student loan programs, private loans and parent loans.
Call lenders and ask them directly about their student loans. They can give you accurate and up-to-date information over the phone or refer you to additional resources they believe will be helpful. Ask lenders to answer honestly what the pros and cons are to getting a student loan through them.
Compare student loans based on the research you collected. Things that will help you differentiate between loans includes: interest rates, whether the loan is subsidized or non-subsidized, repayment options, grace periods, eligibility criteria, maximum loan amounts and limitations on how the funds can be used. Some loans do not accrue interest while you are a student while others do, and some loans have variable interest rates which can make a big difference.
Ask someone you trust to help you differentiate between loans if you still are uncertain. Also consider making an appointment with a financial aid adviser at your school. Sometimes, others see something that is missed right away and are an excellent source of feedback.