A majority of college students rely heavily on some form of student loans, scholarships, or government grants to help pay for their education. This is in large part due to the ever-increasing cost of college. The average graduating college senior has around $20,000 in debt. Unfortunately, the higher cost of higher education will not slow down anytime soon. In fact, many analysts believe college tuition will continue to increase at an expeditious rate over the next 10 years.This means finding a quality college loan, scholarship, or government grant is essential.

First, let's talk about loans. Acquiring a college loan can be tricky if you don't do your homework. A lack of understanding and familiarity with the terms of a loan could wind up costing you thousands of dollars, especially if you get stuck with an extremely high interest rate. Fortunately, there are a myriad of college loan options. All that's necessary is for you to do some simple research in order to find the best loan for you. A new loan program that's becoming increasingly popular is the "co-signer" loan. You've probably seen advertisements on television featuring companies such as Astrive. They claim to guarantee you $30,000 dollars in less than a week. However, what you must keep in mind is that a co-signer is required.

What is a co-signer? Basically, a co-signer is insurance in case you default on your loan. If you miss a payment or are regularly late with payments, the company that provided the loan can go after the co-signer for compensation and re-payment. This provides an added layer of security to the company.

Obviously, the biggest obstacle with this type of loan is finding a quality co-signer. Many students will try to persuade a parent to co-sign, and if you have willing parental units, I suggest utilizing this strategy. Of course, if you do not have parents willing to take the financial risk of you having a misstep with your loan, or you just do not have parents (due to death or other circumstances) then othero ptions must be explored.

Another option is the standard loan from either a bank or a loan agency. This has been the tried and true method to acquire a college loan. But keep in mind, there are certain things you must be cognizant of before signing on the dotted line. First and foremost, be very clear on the interest rate you'll be charged. The average interest rate for subsidized student loans is currently 6.8 percent. So, if it is gratuitously over this mark, lookels ewhere. But remember that various factors go into computing your interest rate, most notably your credit history. So, if you have poor credit or no credit, there is a good chance you will have to pay higher interest on a college loan.

Now, let's talk about scholarships and grants. Scholarships and grants are the much-preferred method to deal with college tuition since they require no repayment. Of course, to obtain a scholarship you must display some form of academic accomplishment (e.g. high GPA) or have a unique ability, talent, and/or background.

Obtaining a grant also requires some sort of unique ability since most grants require you to complete a project or major assignment in return for college funds. However, there are grants available that do not require the completion of a project, but rather are available to minorities and those with a unique background or family history (similar to scholarships).