If you’ve got student loans or are thinking about applying for them, knowing the differences between your options for financial aid could save you a fortune. The two main types of funding are government and private lenders. To know which one is right for you, you’ll want to compare the benefits and drawbacks of each. To begin with, you should understand who is making the loan and terms and services agreed on before you begin applying for funding. This guide will explain the types of loans available, the advantages and drawbacks of each, and provide you with useful tips to help get you started on applying for student loans.