When you apply for a student loan, the financial aid process is not difficult to understand. You can apply directly for your student loan on the Internet and fulfill all the eligibility requirements. You do have to send in a form from the university or college you plan to attend with the details of the cost of tuition and the books you will need to purchase.
For most of the federal and state financial aid programs the eligibility rules are:
The financial aid office will make every effort to offer you the full amount of student aid. You must file an accurate FAFSA (Free Application for Federal Student Aid) by the due date for the disbursement of scholarships and bursaries. You can only get one of these grants or scholarships if you are a full time student.
When you submit your application for financial aid, you also must include all the housing costs you will incur while attending college. It will take about 4 to 6 weeks for you to receive a reply regarding the amount of money you are eligible to receive. You may have to submit other paperwork, such as a copy of your income tax return or that of your parents if you are considered a dependent.
All the extra forms you need to submit are available online and you only have to print them off and either scan them and send them as an email or send them by regular mail. Once your application has been received, you will receive a card telling you the date of receipt. All of the required documents, especially those that require a signature, must be submitted within ten days of your application.
At the time of submitting your application you also have to choose the lender you wish to have for your student loan. The website contains the list of all the lenders as well as the appropriate code to enter for each one.