Student loans are provided to students who are not in a situation to pay the fees on their own because of the financial problem in their home. The loans are of two types such as government student loans and private student loans. The private student loans are provided by many private banks and financial institutions. The only thing with this is that they will provide loans at an excess amount but at the same time the interest rate will be a too high hence this may hinder the education as the student has to repay within limited period and he cannot continue his studies further.