We are committed to recommending the best products for our readers. When it comes to paying for college, sometimes you need a little extra help. If you have already exhausted savings, scholarships, grants, and federal student aid, private student loans are the next place to look to pay the bills. While private student loans tend to charge a bit more than federal ones, when they go to use for a valuable degree, they can be very much worthwhile. When choosing your student loans, the most important place to look is the interest rates and fees. You may do best by shopping. Private student loan rates come from a combination of your credit history, market interest rates set by the Federal Reserve and the banking system, and the terms of the student loan you choose. Also be aware that many private student lenders require a co-signer, usually a parent or other relative who would take over responsibility for the loan if you stop payments for any reason.