With all the talk of an unprecedented economic crisis, you may have fears that finding student loans will be impossible. In tough times, people panic, but it helps to know the facts. First, take a deep breath; financial aid is still available to students. The National Association of Student Financial Aid Administrators (NASFAA) says the current credit crisis is mainly affecting lending in the real estate market, not in education. According to the NASFAA:

• Pell Grants, federal work study programs, educational tax benefits, and other vital parts of student financial aid are generally not suffering.
• Federal loans should still be as accessible as they were before. Even students who don't qualify for federal loans can still receive Stafford Loans.
• Only a small number of students – perhaps 5 percent or less – will have trouble obtaining private or alternative loans for education. (And remember, private loans are only to be used as a last resort. Before taking one out, consider Federal Perkins and PLUS Loans, which are excellent alternatives.)

Do you need good credit to get student loans from the government? No way! The government knows that you are young and likely haven't yet had the chance to build up credit. You can still receive federal education loans regardless of whether you have good or bad credit.

So remember, despite a troubled economy, there is still money to be had for students who need financial aid for a college education.