One and all require loans to compensate for their shortage of funds and help them tide over a financial crisis. The education fraternity is no different. Quite a number of brilliant academicians are there whose families just do not have the wherewithal to help them to pursue with their studies. These needy students turn to the student loans to get hold of money that is required for undertaking their education. Student loan is given at low interest rates and is generally required to be paid back completely within a certain period of time after the student has completed his or her education.