How do I apply? A Student Loan

As with all federal student aid

(grants,workstudy and loans),

you apply for a federal student

loan by completing the Free

Application for Federal Student

Aid (FAFSA). A separate loan

application isn’t required

There are Three-step process to apply

Step 1

Collect the documents needed

to apply. Although not all aid is

need-based, you’ll need to include

information on your and your

parents,’ if applicable, income tax

returns and W-2 forms (and other

records of income) to help determine what type of aid you should receive.

A full list of what you need is at www.fafsa.ed.gov. Tax return not completed

at the time you apply? Estimate the tax information, apply, and correct

information later. Complete the Free Application for Federal Student Aid

(FAFSA) at www.fafsa.ed.gov. Complete the FAFSA on or after Jan. 1

of the year you expect to start college. When you complete the application

online, you will have the option of receiving you personal identification

number or Federal Student Aid PIN. The PIN serves as your signature

and will give you access to your student aid records. Keep it to yourself

and keep it safe!

Step 2

Review the Student Aid Report (SAR)—the summary of your FAFSA.

After you submit your FAFSA, you will receive your SAR from the U.S.

Department of Education. Review your SAR, and if you make changes

or corrections, submit your SAR for reprocessing.Your complete, correct

SAR will contain your Expected Family Contribution (EFC)—the

number used to determine your federal student aid eligibility.

Step 3

Review your school’s financial aid award letter. Once you have been

admitted, the school(s) will send you a financial aid award letter that

lists the grants, scholarships, work-study, and loans for which you’re

eligible. The letters aren’t standard, vary in the amount of information

included, and are based on the school’s cost of attendance (all direct and

indirect expenses, including tuition, fees, room and board, books,

transportation, and supplies) minus the EFC.Some schools might include

optional private loans in your award letter. Before you accept any loans,

make sure you understand the source of your loan

(government or private) as well as the terms of the loan.

If your school participates in the Direct Loan Program, the U.S.

Department of Education is your lender. If your school participates

in the FFEL Program, the federal government guarantees loans

made under the FFEL Program but you’ll have to choose a lender

(either your own bank or one your school suggests) to fund your loan.

No additional applications are needed. Remember, you have the right

to work with a lender of your choice. You’re not limited to your school’s

preferred lender list because, either way, the federal government

guarantees your loan.

NOTE: Because some school and state student aid is also based on the

data you provided on your FAFSA and, because of funding limitations,

provided on a first come first served basis, submit your FAFSA as soon

as possible after Jan. 1 to be considered for this aid.