Examination should include

the parts of a financial aid award letter and how to compare offers from multiple colleges
Direct Subsidized vs. Direct Unsubsidized loans
Direct Parent PLUS (loan taken out by a student’s parents or guardian to cover expenses not met by other types of federal financial aid)
Direct PLUS Graduate (loan taken out for the educational expenses of graduate school study not covered by other financial aid)
Direct Consolidation (loan that combines all eligible federal loans into a single loan)
institutional aid (non-federal aid provided by schools)
private or state aid (non-federal aid that helps students above and beyond federal aid or for students not eligible for federal aid up to the college’s cost of attendance)
the associated risks involved in each type of loan.