by Maxwell Payne

Created on: March 18, 2009

Student loans can be a practical way to fund one's college education. Taking out student loans can help you focus on your education instead of constantly worrying about where the next tuition bill money will come from.

When used properly, student loans can help a student with the expenses of education from undergraduate study to doctorate study.

There are a few things you'll want to keep in mind while applying for and using student loans. Keeping these in mind will help you avoid costly mistakes that can leave you in far more debt than you need to be in.

Always fill out a FAFSA.

This is a critical step in applying for financial aid each and every year of your college experience. You can fill out the FAFSA form at the location. Doing so will help both your school and the government determine your eligibility for need based grants as well as give you access to federal student loans.

You should always fill out the FAFSA for each year. It is free and can help you get money you need for college.

Too many students and families either overlook the FAFSA or think they make too much to be eligible for aid. They end up only relying on private student loans to cover what grants, scholarships, and their own paychecks can't cover. This leads to having more debt after graduation due to the higher fees and interest associated with private loans.

Use student loans for their intended use.

Student loans, both federal and private, should be used for your education and nothing else. You should use student loans to pay for tuition first. Any amount of tuition that isn't paid for by grants and scholarships should be paid by student loans after any money that you or your family is using to pay for school.

You can also use your student loans to pay for room and board for your college education. Using loans for books is debatable. You can save a few thousand dollars in loans by saving up to pay for books each semester. Only use loans to cover books if you really need to.

Don't use student loans for personal use.

Students in graduate and doctoral programs may end up using loans to help pay for rent, food, their car, health insurance, and other expenses that require large sums of money. These students generally do so because they need to focus their energy and time on their studies.
While undergraduate students surely want to stay focused on their education, many fall into the temptation of using left over student loan money to pay for things such as clothing, parties, nights out, electronics, and

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