Are you looking for a federal student loan to complete your education? There are different types of federal student loans that you can take out to finance the cost of your education. Apart from the students, the parents can also take out federal student loans to finance the cost of their children’s education. To receive financial aid, you need to fill out a FAFSA (Free Application for Federal Student Aid) at each and every school year. Read this article to know about federal student loan application that is, how to apply for a federal student loan.
How to apply for a federal student loan
As already mentioned, you need to fill out a FAFSA in order to apply for federal student loan. However, the parents may not require filling out a FAFSA in order to apply for a federal PLUS loan. You can simply search for the form in the internet and fill out the required fields with appropriate information. Moreover, there are online instructions on how to fill out the respective fields. You can browse online to find out the current form for the appropriate academic year. You don’t have to pay anything for filling out the FAFSA form online. You can even sign electronically to get your application processed fast.
How to fill out a FAFSA form
You need to provide certain information while filling out the federal student loan application and also attach the required documents. You need to give out information regarding your income prior to the year you’re applying for a loan. If you’re a dependent student, then you need to provide the income details of your parents. Along with it, you also need to provide certain basic information such as your SSN (Social Security Number), your driver’s license (if any), etc.
How to check the status of FAFSA application
After submitting your federal student loan application, it is advisable that you check its status after 1 week if you’ve used electronic signature. However, you should check the status of your FAFSA after 2-3 weeks if you’ve signed the form manually and sent it through mail. You can even view your SAR (Student Aid Report) by using the PIN (Personal Identification Number).
Usually, the schools, which you’ve listed in your FAFSA form, receive a copy of your SAR when your loan application gets processed. However, if you’ve applied in foreign schools, then it is advisable that you check with the schools whether or not they’ve received your SAR. If not, then you need to provide a paper copy of your Student Aid Report to the schools. The schools, in turn, assess your application and offer you a financial aid package to help you complete your education.