Scholarships are the best type of financial aid because, unlike loans, you do not have to pay them back. You may have to excel to qualify for one, however. Some scholarships are based on grades, some on athletic prowess and others on the field you want to enter. Ask your financial aid counselor what types of scholarships you might qualify for or check the FastWeb scholarship search, a comprehensive database of scholarships. Grants work the same way: If you are from a low-income family, you can qualify for a Pell Grant, which comes from your school and does not have to be repaid.
Some education loans come from private lenders such as banks or other lending institutions. Interest on these will be higher than on federal student loans, such as the Stafford loan, which you apply for through your school. Your parents can apply for a federal loan called the PLUS loan. Use private loans as a last resort, because the interest is high and you might have to start paying interest while you are still in school.
The GI Bill was put into place to help service men and women get access to a good education. If you are a member of the armed forces, you can receive money for college. The military will help you pay your tuition, books and living expenses. If you already have military experience, that can serve as college credits. Many programs are available to help service members go to school.
Some employers offer tuition reimbursement programs: They will reimburse your tuition expenses if you go to school. Check with your employer to see if your job offers it. Some big companies offer tuition reimbursement as an incentive for employees to further their education.