Even with more and more schools making efforts to provide financial assistance,  many students still find taking out college loans  unavoidable. That’s why it’s important to be smart about the loans you take out. Before taking out any private or alternative student loans through a bank, make sure you’ve considered any of the federally regulated loans that may be offered through your school. You will need to file your FAFSA and completing the aid application process at your school before any of these are made available to you. Stafford Student Loans and Federal Parent PLUS loans are the most common. The terms and conditions for loans under programs like these are almost always better than any other loans that financial institutions offer independently. After you know you’re getting the most out of any federal loans available, that’s when it might time to look into private student loans if you still need more funding.