If you are wondering what a student loan is, chances are you are considering going to college or technical school. Education is expensive, and many cannot afford to pay for their education up front. So, enter the student loan.

Getting a student loan is a little different than getting, say, a car loan. Your credit history is not so important for education loans. However, you may find that you need to get a student loan from a commercial lending source, which could be different. Most people, however, apply for and receive federally backed student loans. Education loan programs are also available through state education programs.

The first step in determining whether you need a student loan is to fill out your FAFSA. The FAFSA is the Free Application for Federal Student Aid. In doing so, you and your school will determine what loans you need and where to apply for them.