Applying for Student Loans
In order to determine eligibility for grants, student loans, work study programs and various other forms of financial aid, you’ll need to fill out a Free Application for Federal Student Aid (FAFSA). At www.fafsa.ed.gov the form is available for downloading at no cost. If this isn’t possible, visit your college’s financial aid or admissions office or your high school guidance counselor’s office. They’re sure to have all of the necessary paperwork and may even be able to offer tips for filling out the application. Though the forms are available as a hard copy, it’s best to fill it out online so any issues can be spotted immediately. It can take days for an application to arrive via regular mail (snail mail).
The FAFSA isn’t enough though. You’ll have to fill out a second application to apply for a student loan. Visit your financial aid office for this paperwork. There are two different types of loans available. Subsidized loans which are based on your financial needs and an unsubsidized loan which isn’t need based. Unsubsidized loans mean the interest will begin to accrue right away.
After you’re awarded a federal loan, it’s necessary to attend a 30 minute counseling session. This session will discuss fulfilling your student loan obligations in a responsible manner. You’ll learn how to budget and also how to responsibly pay back your loans. You will not be able to receive student loan funds unless you attend this program. When you leave school upon graduating, you’ll be required to attend an exit counseling session. There you’ll be reminded of your obligations and taught the best ways to repay your loan. You’ll also assist in setting up a payment schedule that works and also discuss deferment should the need arise.
Other things to consider when filling out the FAFSA application:
• Be sure to have all of your forms filled out and good to go way ahead of time. There are deadlines involved for receiving the maximum awarded amounts.
• It’s preferred that forms are filled out online. This allows errors to show up immediately. This type of filing is actually more convenient thanks to the tools offered on the web site.
• File your taxes early since your application can’t be mailed until that task is complete. The sooner you fill out all of the necessary forms the better your chances of getting the maximum amount of money available to you.
• If you’re asked for more information, respond immediately. If you don’t, the process will become stalled.
• Be sure to keep copies of every piece of piece of paper no matter how insignificant.
• Fill out all paperwork completely and accurately. Neatness counts.
For assistance, visit the university or college’s financial aid office. They’re a great source of help and will answer all of your questions. If necessary, you can make an appointment with your school’s financial aid counselor. Bring along all necessary paperwork. If you’re still in high school, your guidance counselor can also coach you. Though it may seem like an intimidating process, there are trained professionals to guide you as you go.
Applying for Student Loans
In order to determine eligibility for grants, student loans, work study programs and various other forms of financial aid, you’ll need to fill out a Free Application for Federal Student Aid (FAFSA). At www.fafsa.ed.gov the form is available for downloading at no cost. If this isn’t possible, visit your college’s financial aid or admissions office or your high school guidance counselor’s office. They’re sure to have all of the necessary paperwork and may even be able to offer tips for filling out the application. Though the forms are available as a hard copy, it’s best to fill it out online so any issues can be spotted immediately. It can take days for an application to arrive via regular mail (snail mail).
The FAFSA isn’t enough though. You’ll have to fill out a second application to apply for a student loan. Visit your financial aid office for this paperwork. There are two different types of loans available. Subsidized loans which are based on your financial needs and an unsubsidized loan which isn’t need based. Unsubsidized loans mean the interest will begin to accrue right away.
After you’re awarded a federal loan, it’s necessary to attend a 30 minute counseling session. This session will discuss fulfilling your student loan obligations in a responsible manner. You’ll learn how to budget and also how to responsibly pay back your loans. You will not be able to receive student loan funds unless you attend this program. When you leave school upon graduating, you’ll be required to attend an exit counseling session. There you’ll be reminded of your obligations and taught the best ways to repay your loan. You’ll also assist in setting up a payment schedule that works and also discuss deferment should the need arise.
Other things to consider when filling out the FAFSA application:
- Be sure to have all of your forms filled out and good to go way ahead of time. There are deadlines involved for receiving the maximum awarded amounts.
- It’s preferred that forms are filled out online. This allows errors to show up immediately. This type of filing is actually more convenient thanks to the tools offered on the web site.
- File your taxes early since your application can’t be mailed until that task is complete. The sooner you fill out all of the necessary forms the better your chances of getting the maximum amount of money available to you.
- If you’re asked for more information, respond immediately. If you don’t, the process will become stalled.
- Be sure to keep copies of every piece of piece of paper no matter how insignificant.
- Fill out all paperwork completely and accurately. Neatness counts.
For assistance, visit the university or college’s financial aid office. They’re a great source of help and will answer all of your questions. If necessary, you can make an appointment with your school’s financial aid counselor. Bring along all necessary paperwork. If you’re still in high school, your guidance counselor can also coach you. Though it may seem like an intimidating process, there are trained professionals to guide you as you go.
