“It’s been our experience that where some lenders have stepped out of doing federal loans, others have stepped in,” says Glickman. 
Your university may be able to recommend a loan agency that is providing the best student loan rates. Better yet, find out if your college or university has a direct lending program. If you’re unsure about what your college may have to offer, call the financial aid office immediately. You don’t have to wait to stand in line to find out –your school's contact information should be available on its Web site.
One caution: Don’t get too comfortable with the money your loans provide. In today’s climate, make minimizing debt a priority. “Live like a student while you’re in school,” says Kantrowitz. The urge to borrow obscene amounts of money is always there –particularly if you’re living like a pauper. However, don’t spend what you want, instead spend what you need. Another good tip according to Kantrowitz?  Do not “borrow more than your expected starting salary."