A. Grant funds are severely limited and are typically awarded to students demonstrating the lowest family contributions. These days, it's almost impossible for a student demonstrating financial need to obtain a college education without using a student loan for some portion of the financing.
Loans ARE a form of student financial aid.
Student loans offer interest rates and terms that would not typically be available to first-time borrowers if it were not for their student status. With a subsidized Federal Stafford Loan the government pays the interest while you're in school. With the unsubsidized Federal Stafford Loan , you're responsible for the interest while you're in school. You can however, postpone payment of principal and interest until after you graduate. Sometimes you may need to fill the gap between what you receive from all financial aid sources and what you really need.