First, would your loan be subsidized or unsubsidized?  Subsidized loans have a huge benefit in that the government pays for the interest while you are in school!  This means you will not have to pay extra money when you have completed your graduate studies.  That is a good way to not be giving away all of your money on interest rates on loans.  Also, an obvious factor to look into is what the interest rate on the loan is.  Some loans will have a fixed interest rate.  This will offer you security in that you know it will not change.  So every year you know what payments you will be facing, where with private loans some years the interest rate may change.  Maybe in your first year you will have a great deal with the interest rate, but then the economy changes and the next year is not so good for you.

Another thing to look into is which loan has the lowest cost.  Some loans have origination fees or fees for starting with a loan; others have guaranteed fees throughout the course of the loan, also check out other charges such as late fees.  One more thing to look at is the flexibility in terms of repayment.  When do you have to start paying back and are there alternative options for repayment are questions to ask yourself.  When examining the student loan for graduate school you really want to take these all into effect.  A student loan for graduate school is not difficult to get and is worth it for you to continue along the path of excellence in academics, so do not hesitate and go for it!