Question

When looking to finance higher education what is the best order to look for funding sources

Answer 1

The best order to look for funding sources (beyond your own and your family's finances):
1.  Grants and scholarships.  Any grants or scholarships which you can obtain are funds you will not have to repay, so they are your first choice if you can get them.  You need to meet the qualifications in order to apply for this or that scholarship or grant, so do some research into possibilities and see what you can find.
2.  Federal student loans.  Federal student loans typically offer lower rates and better terms than private loans.  On subsidized federal loans, you don't have to pay any interest during the time you are in college.
3.  Private loans.  If you fill out the Free Application for Federal Student Aid (FAFSA) and you don't qualify for enough funds from federally-supported loan programs, you can seek private loans through banks or other lending agencies.