Financial aid as student loans is the next best option to scholarships. Federal student loans help students to pay the tuition fees and meet other expenses. Federal loans are advantageous when compared to other loans.
Student loans needn’t be repaid until the student is out of school. The repayment options are flexible and can be modified to suit your financial condition. Student loans have variable interest rates and the terms and rates are lenient.
Depending on the repayment plan chosen, as much as 30 years can be taken to repay the loans. The repayment can also be rescheduled up to 3 years depending on your financial status and some part of the loan can also be forgiven if the student fails to find a job to make a living.
While applying for a student loan, first thing to be calculated is the amount that should be raised. This can be decided on the basis of living expenses including both living as well as education expenses. Second thing to be given a thought is about your plans of finding a job. Working would reduce the debts and help you clear the loans faster. But the decision should be made keeping the comfort quotient in mind since the prime focus would be studies.
To get student loans, you should file a free application for financial student aid. Most schools have a February 15th deadline to qualify for grants and other types of non-loan aids. Getting an application soon after it is made available is advisable. Fill it attentively by providing accurate information. Maintain a copy of the documents you post. Have an idea of the amount of money applied for and the amount you are capable of repaying. Measure the costs and benefits properly and apply for the loan.
Planning to give the best shot in both is a challenge.The key word here is balancing! 
Parents get frightened by the fact of to pay thousands of dollars for an education. 
For post secondary education, Federal government has launched loan program. 
Scholarship scams - because many students competing for scholarship.