Posted on March 26, 2009 at 5:09 pm In the United States there are several student loan options available.  We have Pell Grants, which do not have to be repaid (1/2 of my student loans came from this source) and then we have other loan options available that have to be repaid that come from the Federal Government.  Obtaining a loan is relatively easy.  We have to fill out a form called a FAFSA (financial service agency) which asks a lot of personal questions.  We are also made to watch a video explaining the necessity of repaying our student debt. Once we have graduated with our degree, we start to make payments six months after the graduation date.  If we can not make payments, we apply for financial hardship or a deferrment.  Either way, once it is up and our situation has changed, we can begin repaying the loan once again.  If not we apply for an extended deferrment.  With the economy the way it is, I am happy that this option is available.