There are student loans which are government backed, and student loans which aren't.

In general, there is no payment due on student loans until six months after you graduate.

To pay the least for your education:

Step 1. Look for free education.
Step 2. See if you qualify for a subsidized Stafford or Perkins loan.
Step 3. Compare the other loans available to you.

Check the various sources of student loans.

Your health condition is not relevant to the process.

For more information: It is generally agreed that the best source of information about student loans is the school aid office. Each office maintains lists of preferred lenders. When you speak with the aid office, ask whether there are any financial arrangements with any of the lenders they recommend, or if the lenders give gifts to the school or to the members of the aid office.

Also check:

• Education Finance Council offers: Borrower Benefits Book and Financial Aid Guides, www.efc.org/cs/root/resources/resources

• Department of Education offers a guide: Funding Education Beyond High School, www.studentaid.ed.gov/students/publications/student_guide/2006-2007/english/index.htm

• Check with your local disease specific, non-profit organization. There may be a relationship with institutions of higher learning that offer some free education to clients of the organization.
• See if you qualify for a non-health related scholarship.
  • Check with the school or schools you are interested in to see if you qualify for a scholarship. Unlike a loan, scholarships do not have to be paid back.
  • Check an internet site such as www.fastweb.com . FastWeb is a free service that matches applicants with scholarships.
• Complete an application for federal education grants. Grants do not have to be paid back. The application for federal grants is the same as the application for government backed student loans. You can find the application, known as "Free Application For Federal Student Aid (FAFSA)" at www.fafsa.ed.gov/ .

Stafford and Perkins Loans

Both Stafford and Perkins Loans are low cost student loans -- generally for a lower cost than private loans.

Under a Stafford loan, you borrow directly from the government or from a private lender. The maximum rate in 2010 is 6.8%. Lenders can offer a lower rate. Loans are either from the Direct Loan Program (the U.S. government loans you the funds) or the FFEL Program (the funds are lent to you from a private lender.) Loan repayment options are different in the two programs. Schools generally participate in one or the other.

Stafford loans can be subsidized and unsubsidized.

• A subsidized loan is awarded on the basis of financial need. There is no charge for interest before you begin repayment.
• With an unsubsidized loan • need is not an issue. Interest starts running from the date you receive the funds.

Starting July 1, 2010, all students eligible for federal loans can borrow directly from the government by contacting their school's financial aid office.

For more information, see http://www.ed.gov/prog_info/SFA/StudentGuide/2002-3/stafford.html .

Under a Perkins loan you borrow from your school. The loan is made with government funds with a share contributed by the school. There are no fees to take out the loan. You repay the loan to your school. If you're attending school at least half time, you have a grace period of nine months after you graduate, leave school or drop below half time status before you must begin repayment. If you're attending school less than half time, the grace period is shorter. If you are on active duty with the military, you may have longer than nine months to start repaying. For more information, see: www.ed.gov/prog_info/SFA/StudentGuide/2002-3/perkins.html .

In both a Stafford and Perkins loan, no payments are due on the loan until at least six months after you graduate or drop out of school or drop below half time enrollment.

State Financing Authority

Find out if a state financing authority in your home state or in the state in which you will be attending college has funds to loan for which you qualify. These authorities generally have more leeway than for profit lenders to offer discounts.

As a general matter, it is always wise to compare alternatives. With respect to student loans, keep in mind that multiple requests for credit in a short period of time may affect your credit rating (and/or the rating of your loan guarantor if you have one).  This isn't the case for multiple requests in a short period of time when looking for a mortgage and similar loans, but it is the case with student loans. According to Ron Lieber, author of "Your Money" column in the New York Times: "Some shopping around still makes sense. You'll probably do best by comparing three or four lenders and finding the lowest rate -- even if your credit takes a small hit in the process."

It's difficult to learn the reality of private loans until you actually apply for one. The advertised rate and terms are not necessarily what will be offered to you. The only way to know is to apply. One easy method is through web sites such as: www.StudentLoanMonkey.com or www.FinAid.org . These sites generate loan offers from multiple lenders (not ALL possible lenders). There is no charge to the student or the school. According to SmartMoney Magazine, StudentLoanMonkey submits a "soft" credit inquiry which does not affect your credit rating.

When comparing loans, among other factors, look at:

• Origination fees.
• Interest rate.
• Whether the interest rate is fixed (so that it remains the same over the term of the loan) or variable (changes over time with a change in a particular index.) If it is variable, is it tied to a bank's prime rate or possibly the London Interbank Offered Rate (LIBOR).
• Amount of your payments.
• Term of the loan.
• When you have to start making payments.
• Factors which can reduce payments, such as on time payment, or automatic payment from a bank account.
• Situations in which payments are deferred, for which there is forbearance, or when the loan can be cancelled. Relate each of those rights to your particular health situation. It is advisable to make an alert on your computer or an entry in your calendar for every six months to remind you about these rights in case your health situation changes.

You can genearlly minimize costs by asking a person with good credit to be a co-signer on the loan.

Sources of student loans include the following:

• Your local bank  -- particularly the bank your family deals with, such as the mortgage holder on the house.
• The non profit agency in your state that offers student loans. You can locate the agency in your state through www.efc.org/page.ww?section=Membership&name=EFC+Members .
• A site which does a lot of student loans such as Sallie Mae. www.salliemae.com/ (Sallie Mae is not affiliated with the government.)
• Search in your favorite search engines on "student loans."
• If you're got a rich relative or family friend, does he or she care enough about you to make a very low interest loan to get you the education you seek? Before approaching the person, read our article on Asking Friends and Family For Money. The article is for people who have a need, as compared to a want, but the advice about dealing with friends and family applies to a student loan.