The easy and cost-effective way to pay for school.

When it's time to pay for school, there is a simple way to cut through all the financial information. It's as easy as "get the cheapest money first." And that's as easy as Sallie Mae's
1-2-3 approach to paying for college.

1. Get Free Money First

Look for financial aid that does not have to be repaid, and take advantage of interest-free monthly payment plans, which allow you to pay monthly from current income and savings.

Scholarships and grants are funds that don't have to be paid back. Ask around, use Sallie Mae's Free Scholarship Search, and find all the "free-money" you can.

Explore the TuitionPay Plan — an interest-free monthly installment option that helps you better manage the cost of education.

2. Apply for Federal Student Loans

Step two is federal loan programs. They generally have below-market interest rates and more flexible repayment options. Even if you think you are not eligible for federal money, you can't be sure until you try. Fill out the Free Application for Federal Student Aid (FAFSA) and start the process.

3. Fill Any Gap with Private Loans

After you've exhausted free and federal money, private loans can make up the difference. There are a variety of loans, each with its own requirements and features.

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