Open Question: When should I start applying for private student loans?

I have received my financial aid award letter from the college I plan on attending in the fall. You see, they’re not giving me much money. I will be receiving $11,050 for the 2010-11 academic year. Although I have many scholarships lined up to apply for and have applied to many others, should I go forth with applying for private student loans or should I wait until I receive word on the results of the scholarships? I ask, because the tuition and fees for the fall semester is due August 2nd, and I’m not sure how long the loan process takes. Also, it looks as though with tuition, fees, personal expenses, etc. it will cost about $45,000 for the next academic year. If I don’t get any scholarships, I will likely have to borrow about $30,000.
My mom will be my co-signer. Also, what are the best private student loans known to you?