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How to I go about applying for a student loan??
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MRSJLK
LIF Toddler
Member since 10/05 472 total posts
Name:
Jennifer
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How to I go about applying for a student loan??
Where do I begin?? I am so clueless
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Posted 11/4/05 10:50 AM  |
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mrswask
Pookie Love
Member since 5/05 20229 total posts
Name:
Michal
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Re: How to I go about applying for a student loan??
Are you applying for Financial Aid for this school year or for Fall 2006? If it's next fall - you can't apply until after Jan 1, 2006 - if it's for the current year, you can apply now.
First thing you have to do is fill out the FAFSA form - you would use your 2004 taxes to fill out the current FAFSA - if you are filling out after Jan 1 - you have to use 2005 taxes. Once you fill out the FAFSA, it will generate more paperwork that will then be sent to you.
www.fafsa.org
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| Posted 11/4/05 10:57 AM |
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MRSJLK
LIF Toddler
Member since 10/05 472 total posts
Name:
Jennifer
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Re: How to I go about applying for a student loan??
Posted by mrswask
Are you applying for Financial Aid for this school year or for Fall 2006? If it's next fall - you can't apply until after Jan 1, 2006 - if it's for the current year, you can apply now.
First thing you have to do is fill out the FAFSA form - you would use your 2004 taxes to fill out the current FAFSA - if you are filling out after Jan 1 - you have to use 2005 taxes. Once you fill out the FAFSA, it will generate more paperwork that will then be sent to you.
www.fafsa.org
Now I am confused????  Financial Aid and Student Loans are two different things, right??
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| Posted 11/4/05 11:02 AM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: How to I go about applying for a student loan??
Loans are usually part of the aid package. Student loans generally have lower interest rates and other perks that personal loans do not. The school has to approve you for a loan - you have to meet certain income requirements to qualify for a student loan. If you just want a personal loan, I guess you could apply for that any time.
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| Posted 11/4/05 11:08 AM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: How to I go about applying for a student loan??
Posted by MRSJLK
Posted by mrswask
Are you applying for Financial Aid for this school year or for Fall 2006? If it's next fall - you can't apply until after Jan 1, 2006 - if it's for the current year, you can apply now.
First thing you have to do is fill out the FAFSA form - you would use your 2004 taxes to fill out the current FAFSA - if you are filling out after Jan 1 - you have to use 2005 taxes. Once you fill out the FAFSA, it will generate more paperwork that will then be sent to you.
www.fafsa.org
Now I am confused???? Financial Aid and Student Loans are two different things, right??
The FAFSA covers it all.
Most likely you will only qualify for a loan- there are various levels though.
Subsidized loans- do not charge you interest while you are in school
Unsubsidized loans- do charge you interest while you are in school, but they send you the bill for it quarerly and you can pay it so it doesn't compound.
This is how I got the loans for my MBA- I took out 20k and I was able to consolidate last year at 3% (yeah!).
Taking a personal loan is pretty foolish b/c the interest rate would be much higher than what you'd get from the government.
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| Posted 11/4/05 11:11 AM |
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