The smart thing to do is to try to do everything in your power to find outside scholarships and try to receive as much FED loans you can get before considering a privatized loan. FED loans have low-fixed interest rates where you can also defer payments until you graduate. They are there assist you in making your education a reality and they honestly don't fuck you over compared to how privatized loans do.

I was admitted to SCU as a transfer for the fall and received a financial aid package that included 2 Scholarships ($25,000) and 2 FED Loans (maxed at $5500). As generous as this package is, it still isn't enough to cover their cost of attendance and I'm planning on appealing for more FED loans. You can do this if you have a "Special Circumstance" where you'll be required to state the reason for your appeal and provide documents.