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Step 1
Fill out the FAFSA. This can be done as soon as you file your tax returns and is a key component of many financial aid decisions, as well as all federal student loans. Your college or university will then determine what loans you are eligible for and send you a financial aid package.
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Step 2
Accept or deny the loans. Generally, it is best not to take loans if you do not need to, but federal loans are the best to take. They have the lowest interest rates and the best repayment policies.
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Step 3
Take the requires entrance counseling through a link provided on your student financial aid service's website. This is a 10-30 minute process which is required for you to get the loan.
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Step 4
If you need more money to cover rent, books, or transportation, consider taking out a living expense loan, or a PLUS loan. These are government subsidized loans that can be used to help you manage your expenses. Below is a link with more information about how to apply.
Comments
mattsaboy said
on 9/7/2009 Great article and tips. 5 stars and a recommendation.
mrclinton0121 said
on 9/3/2009 Great article- getting financial aid can be a pain for many students, great steps!
emp04 said
on 9/1/2009 Thanks for clarifying pennynickols. I forgot to add that part. For more information on applying for scholarships and grants, please see my other articles.
respectfully said
on 8/31/2009 good points. thanks 5* rec
sciencerocker said
on 8/31/2009 Great advice for college-bound kids looking for student loans. 5* + recommend.