You don't have to pay back your loan as long as you are enrolled in classes at least half time. 6 months after you graduate is when you can expect to start having to pay back loan and you can set up a payment plan. Not all schools offer loan programs, so you'll have to do a bit of homework to see if yours offers such assistance. It's best to check this important fact out before deciding on which college to attend if money is an issue for you. Make sure to get your application in early also, to ensure that your assistance will get to you in time for tuition due date. 60-90 days before beginning of semester is recommended.

There are a couple different types of student loan awards you can try to receive. A subsidized student loan means that you do have great financial need for assistance while an unsubsidized student loan means you do not have need for assistance. The student that has a subsidized student loan is not responsible for interest until they graduate and student with an unsubsidized loan is responsible at all times for interest.

So, what are you waiting for? Apply for a student loan today and you'll be on your way to that college education you've always wanted for yourself!

Tucker R. VanZandt is founder of All About Loans an excellent resource site dedicated to information on loans

Too many want to bury their heads in sand and wait for a lottery win to make it all better. With over one trillion pounds of personal debt in UK, students need to realise that the, "it could be you!" they pray for, is actually an "it is you … in debt" … with trapped wind more likely than wind-fall.

Part of problem is hopeful expectation (alias denial), part is a fear of controlling your own personal finances (alias apathy), and part is a lack of knowledge (alias ignorance). The first one is difficult, and needs to be overcome by individual. The other two however can both be overcome by looking for help. Sources of information need to be made available, actively promoted and sought out by consumers.

It’s not like information isn’t there… there are plenty of financial product comparison sites loaded with information (and pictures): http://www.moneynet.co.uk/ for a start, or http://www.moneysavingexpert.com. The Financial Services Authority has its own finance help information for consumers http://www.fsa.gov.uk/consumer/index.html.

As saying goes, "Seek and you shall find". It may be a hard lesson, but it is one that we must all currently embrace.