The federal government is by far the single largest source of financial aid to college students, but there are also state government loans, college-sponsored loans, commercial lending institutions and credit unions which also offer private student loans. Qualifying for funding involves filling out multiple forms, including the Free Application for Federal Student Aid (FAFSA), and providing a detailed profile of your financial situation to potential lenders. As with all financial aid applications, it is important to fill out the forms completely and submit them as soon as possible.