Students who do not meet federal requirements for financial need can use the route of a private student loan. Apply for a private loan is free. The loan is based on the student's creditworthiness and not the need for aid as does the federal loans. Many lenders offer private student loans to students or their parents and the application process is simple and free. The loan requirements are usually less stringent and the repayment options are affordable for young professionals. A private student loan is a great way to finance the education of any student that needs financial help. Below you will find things that you should know and things you should consider. Things You Should Know: 1. Student loans can be used not only to pay the fees but also for lab fees, dues for associations and housing. 2. A student can have an educational loan even though the tuition is covered by a grant. 3. A student who is eighteen years or above in age, can apply for a student loan. 4. Most of the student ...