Federal student loans
Federal programs are the single largest source of college loans. The two main programs are the Federal Family Education Loan Program (FFELP) and the William D. Ford Federal Direct Loan Program (FDLP).
You can apply for a FFELP loan through many private banks, credit unions, or education finance companies. Although your school might recommend specific institutions, you're free to get your student loan from any participating financial institution.
Federal Stafford Loan
  Most students, regardless of financial need, are eligible for Federal Stafford Loans. The amount you can borrow depends on your year in school and your dependency status.

You won't be required to make payments while you're attending school at least half time. Once you graduate or leave school, there is a six-month grace period when no payment is due. In some cases, payments can be delayed or deferred because of graduate school or military service.
Federal PLUS Loan
  Parents of dependent undergraduate students who are enrolled at least half time can receive the Federal PLUS Loan on behalf of their student. The Federal PLUS Loan is a low-interest student loan that can be used to fund the entire cost of education, minus other financial aid. Parents may qualify for a PLUS loan even if they aren't eligible for other federal student loans.

Once the loan is fully disbursed, payment is due within 60 days. Payments can be delayed if the student is still in school.
Why get an International Student Loan?
For the most part, students struggle to fund their international education. Scholarships and grants are always available, but if you are one of the lucky ones to receive one it will still not cover all your expenses. That is where an International Student Loan will help you. Our lender partners offer n o application fees or other out-of-pocket fees and preliminary approval in as little as 15 minutes. Normally, funding is very quick, but currently processing and funding times have slowed down.

Interest rates have gone up substantially! We are also experiencing processing and funding delays due to the turmoil in the student loan marketplace. Borrow as little as you can -- make sure you exhaust all other avenues for funding first. Use scholarships, personal and family funds, and any other money you can first. Read more about the Credit Crunch and how it impacts international students.

Interest rate will be minimum
You can lower your monthly payment up to 60%
If you start paying during grace periods you can save an extra 0.6%
Pay on time for a consecutive 36 months and get 1% reduction from your interest after you make your first 36 consecutive on-time payments
You will have all federal borrower benefits
Federal Direct Loans
The Federal Direct Loans Program is a federal aid program that provides lending assistance to parents and students to pay for the costs associated with attending institutions of higher education.

Under the program, the Office of Education will make a loan through Howard University. Federal Direct Loans simplify the loan process by eliminating the commercial lender. Financial Aid determines eligibility and loan amount that a borrower may receive. The Federal Direct Loans offered include:

Federal Direct Subsidized Loan
Federal Direct Unsubsidized Loan (interest accrues)
Federal Direct PLUS (Parent Loan for Undergraduate Student)
Federal Direct Grad PLUS (For Graduate Students)
Consolidation loans have longer terms than other loans. Debtors can choose terms of 10-30 years. Although the monthly repayments are lower, the total amount paid over the term of the loan is higher than would be paid with other loans. The fixed interest rate is calculated as the weighted average of the interest rates of the loans being consolidated, assigning relative weights according to the amounts borrowed, rounded up to the nearest 0.125%, and capped at 8.25%. Some features of the original consolidated loans, such as post graduation grace periods and special forgiveness circumstances, are not carried over into the consolidation loan, and consolidation loans are not universally suitable for all debtors.