What You Should Know About Student Loans By Mike Selvon If college were not so expensive, then many people would not need student loans to help them pay for expenditures. A student loan can help you pay for the things you must have, which scholarships and Federal grants do not cover. Parents who have saved for your college education often have not saved enough to help cover every expense. Tuition, books, room and board quickly eat through savings and there is often nothing left over for the necessities, such as food and gas. A college loan can be the way to help pay for college but there are several types of student loans available. The three main types are: Federally guaranteed loans, parent loans and private loans from a credit card company or bank. Each has certain rules and repayment schedules, so it is important to thoroughly research the differences. You certainly do not want to have to worry about repaying the loan while you are attending school, if you can possibly avoid it. I...