Speak with the School's Financial Aid Counselors
Finding a way to fund college can feel a little overwhelming.  We recommend first speaking with the financial aid department of the anticipated school to attend.  A counselor can assist you with determining the best options available to you that the school participates in.  They can help walk you through the various steps that are required for any of the funding options, whether it is student aid, a grant, or a loan.

FAFSA Website
As many of the options available to you require a Free Application for Federal Student Aid (FAFSA), you may also want to consider researching the FAFSA website for assistance with preparation.  The FAFSA website offers a lot of beneficial information to help you better understand your options and the required procedures.

Basic Info
The following information is very basic information concerning some of the lending options.  Again, we recommend that you speak with a financial aid counselor at the school of choice, as well as spending some time on the FAFSA website.

Federal Perkins Loans
Awarded based on need
Priority to those students with exceptional financial need, as defined by the s school. 
Free Application for Federal Student Aid (FAFSA) required.
Grace period and deferment periods

Federal Plus Loan for Parent
Not based on need
Available to an eligible, creditworthy parent of the dependent attending school. 
Free Application for Federal Student Aid (FAFSA) required.
Repayment begins once the loan is fully disbursed over a maximum period of ten years.
No grace period. 

Federal Subsidized Stafford
Awarded based on need 
Free Application for Federal Student Aid (FAFSA) required.
Government pays interest during school.  
Grace and deferment periods

Federal Unsubsidized Stafford Loan for Students
Not based on need
Free Application for Federal Student Aid (FAFSA) required.
Borrower will pay the interest accumulated during school. 
Grace and deferment periods. 

FFEL & Direct Loans
Federal Family Education Loans are funded through approved financial institutions, such as Texas DPS Credit Union, while Direct Loans are funded through the Department of Education.  Contact the school’s financial aid department to get a full idea of what funding options are available to you and if they participate in Direct Loans, Federal Family Education Loans (FFEL), or both.  It is the school that determines which type of loan is issued.  With a Federal Family Education Loan (FFEL) Stafford Loan you will need to choose a lender for a FFEL Stafford Loan.  If you would like to select Texas DPS Credit Union our lender code is, if they should request it, is:  833396.

Financial Aid
Aid is available for students of families in many financial situations.  Many are often unaware they even qualify.  Income is not the only factor that is taken into consideration when qualifying a student for aid.  Financial aid counselors also consider other family members in college, home mortgage costs, and many other similar factors. 

Student Loan Comparison Chart:  https://studentaid.ed.gov/students/attachments/funding/PerkinsLoanInfo.pdf

For more information try
http://www.fafsa.ed.gov/index.htm
or
http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp