When Sayan Chaki began considering how much money he needed to borrow for college, he knew that he would probably not qualify for any federal financial aid or loans. However, Chaki still filed a Free Application for Federal Student Aid, or FAFSA.

“When I applied I figured I wasn’t going to get much of anything, but I did anyway, just to see,” said Chaki, senior in Engineering.

Unlike Chaki, some students don’t file a FAFSA and rush into applying for high-interest private loans, according to an analysis released by the American Council on Education. The report found that one in five undergraduates who take out private loans forgoes low-interest federal loans.

“I will admit that I was a little surprised when I read that as high as 20 percent of students are believed to have taken out alternative loans without looking at federal loans,” said Dan Mann, director of financial aid at the University.

The report also concluded that half of the borrowers who took out private loans didn’t file a FAFSA, choosing instead to fill out simpler private loan application.

Chaki said that students may not know enough to completely understand their loan options.

“I don’t think there’s any way, if you give people all these facts, that they wouldn’t give (filing for federal aid) a shot,” Chaki said. “A lot of people just don’t know about it. … The University doesn’t just hand it to you, but if you go to the financial aid office, they’ll definitely help you out.”

Students may forgo federal loans since private loans are directly marketed to them and make the process appear easier, Mann said.

But Karin Pellmann, vice president of public relations for My Rich Uncle, a private loan company, said that the lender urges students to complete a FAFSA before looking at alternative loans and take out a federal loan if they qualify.

“It can be complex, it does take time to get through,” she said. “It’s not simple, but it’s too important to not do it.”

Mann said that students may not be eligible for federal loans if they are not progressing in classes or if they are in nondegree programs.

He added that the financial aid office tries to award as much aid as possible and some families may not understand the benefits of the federal loan program.

“Borrowing is the largest source of federal financial aid at this point in time,” Mann said. “And we do understand that students do have to rely on borrowing to afford their education.”