How to Get ACS Student Loans

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ACS student loans are one of several ways the United States federal government allows college students to borrow for their education. The Department of Education outsources their Stafford Loans to several firms and a number of them go to ACS. You can also apply directly through this company's website, but always have to also fill out a Free Application for Federal Student Aid (FAFSA). ACS student loans do not require credit qualification, but like all other federal loan programs must be paid back after the borrower leaves or graduates school.

Instructions

1. 

   Make sure you are eligible to get ACS student loans before filling out any paperwork. You must be a United States citizen and plan to attend an approved college and take the equivalent of half-time attendance (normally two classes or six credits.) You also need to be working toward a degree, whether undergraduate or graduate.

2. 

   To apply for ACS student loans, visit the FAFSA website noted in the Resources section near the end of this article. Those still financially dependent on their parent(s) will need assistance in completing the application. Students who support themselves can fill out the FAFSA without a parent or guardian's financial information. Depending on several factors including your level of college study, you can borrow $5,500 to $20,500 per school year.

3. 

   Wait for an ACS student loans award letter. If another company sends you a letter, do not despair. Most companies that the government outsources to are pretty much the same. You will still get your loan funds as long as you follow any requirements.

4. 

   Promptly provide any documents or signatures for ACS student loans required by your school or the government. Once your tuition is paid by the loan and any other payment methods, like scholarships or grants, your college will issue a check for any credits on your student account. This should be used to pay for books, rent, and other bills affiliated with getting a college education.

Tips & Warnings

• Remember that ACS student loans are not a gift, and must be repaid with a modest interest fee in installments once you are out of college.

• Applying for other federal financial aid programs such as work study and Pell Grants is always a good idea.

• Consider studying more about paying for college. There are several books on the subject listed in the Resources section near the end of this article.

• Those with drug felonies may be ineligible for federal student aid.

Resources

• Free Application for Federal Student Aid - FAFSA
• How to Go to College Almost for Free
• Free $ for College for Dummies
• 2009 Uncle Sam's Money Machine - Federal Grants, Government Assistance for People, Small Business, Students, College: Grants, Loans, Aid, Applications, New Programs, FOIA Records, CFDA (CD-ROM)