They have an interest rate set by the Federal government for 5 percent. They are available through your school, but are rarely mentioned unless you specifically ask for them. However, you need to inquiry specifically about these loans, as they are rarely mentioned. Once you graduate you have the option to consolidate all of your loans into one payment. Charging your tuition or taking a cash advance is a disaster waiting to happen.
Many people make the mistake of taking out equity loans on their homes, cars and other property.
Initially this sounds like a great idea, since the interest and payments are low. However, an equity loan is a secured loan. If for any reason you cannot meet the payments, the terms are often non-negotiable, and you risk losing your home or the property that you used as collateral to receive the loan. Once you graduate, it may take you several months to find a job. You don't want to risk foreclosure or repossession because you couldn't make the payments.