The majority of degree students require financial assistance to help cover the cost of their undergraduate education and with private, state and federal aid available there are a number of options for getting the required support.

According to modbee.com, the first step should be to complete the Free Application for Federal Student Aid (FAFSA), as otherwise students will not be able to access any state or federal assistance.

Each application is considered on the basis of family income, grade point average, the number of students already in the family and the cost of studying at particular college the student will be attending.

Once this has been assessed, an estimate is produced detailing the cost of study, the contribution the student's family is expected to make and the amount left to cover. In addition, the estimate will list a student's eligibility for federal loans and state, federal and institutional grants that can bridge this gap.

Common types of loans and grants include federal Pell grants, which are paid directly to the student; Perkins loans, which are paid directly to a college; and Stafford loans, which offer subsidized and non-subsidized low-interest borrowing.

There are also alternative loans that are arranged through private companies.

According to Michael John of Cheap Student Loans, these types of loans can sometimes require collateral and often have higher interest rates.