If you’ve exhausted other sources of funding like family help, grants, work study, and scholarships and still have a gap between what college costs and what you can afford, it may be time to turn to student loans. If so, you’re not alone – more than 60 percent of college students graduate with some form of student loan debt. We recommend you exhaust savings, grants, and scholarships before taking out loans. If you do need to borrow, compare federal and private student loans and choose the loans that best fit your needs.