If you're faced with student loans, you're not alone. It's becoming increasingly difficult to fund even a state college education without some sort of financial aid. How much do you really know about financial aid? Read on for some student loan and college financial aid facts.

• The two types of federal student loans are the William D. Ford Federal Direct Student Loan Program and the Federal Family Education Loan Program.

• In 2007-2008, 67 percent of financial aid for graduate and undergraduate students came from the federal government.

• More than $143 billion in financial aid was distributed to undergrad and graduate students in the 2007-2008 school year. This includes grants, federal loans, federal work study, and federal tax credits and deductions.

• In 2007-2008, students borrowed $19 billion from state and private sources to pay for their education.

• In 2007-2008, undergraduate students received an average of $8,896 in financial aid per full-time student. This breaks down to $4,656 in grant aid and $3,650 in federal loans.

• In 2007-2008, 4 percent of the parents of students borrowed money through the Parent Loans for Undergraduate Students, averaging over $11,000.

• 1.4 million people who owed student loans in 2007-2008 consolidated their loans.

Source: Source: College Board: Trends in Student Aid 2008