When looking into how you’ll pay for your education…or for your college student…grants are obviously awesome! Free money you don’t have to pay? C’mon! But, the reality is, most people have to take out loans.  Consider going with a federal loan above all others. Federal loans have flexible terms of payment if your post college employment dreams don’t exactly go according to plan. Meaning they’ll adjust it for you based on how much you make. Plus, federal loans typically have better interest rates. So be smart about the loans you take out—fill out the FAFSA form and try to avoid private loans at all costs. The interest rates can be higher, or variable, which means they can change. 54% of private student loan borrowers don’t exhaust their federal loan options, and that ends up costing them more in the long run.