Recieving Financial Aid
For the answers to some of the most commonly asked questions about education loans, see our "FAQ" page.
1) Fill out the FAFSA. The FAFSA (Free Application for Federal Student Aid) is the gateway to financial aid. Make sure you (and your parents, if applicable) fill it out on time and completely. Sometimes aid is disbursed on a first-come, first-served basis, so the earlier you can fill it out after Jan. 1, the better. You can save time by filling the application out online at www.fafsa.ed.gov. The information you provide will determine what kinds of education loans you will get and how much, so make sure it's as accurate as possible. You will need your social security number, income/tax information, asset information, and your parents' information if you qualify as a dependent.
2) Read your SAR (Student Aid Report). About 4-6 six weeks after submitting the FAFSA, you will get a SAR in the mail. The report will detail your expected family contribution, or EFC, which is what your family will be asked to pay toward your education. The schools you listed on your FAFSA also receive a copy of your SAR.
3) Compare schools' financial aid packages. If you are accepted, the schools you specified on your FAFSA will all send you an award letter. Award letters contain the total cost of attendance, a financial aid package, and your expected family contribution. Compare the financial aid packages of each school carefully. Usually the financial aid package will include education loans that have to be repaid and other types of financial aid that do not have to be repaid (scholarships, work-study, grants, etc.).
4) Choose your lender. If you choose to accept a Federal PLUS or Stafford loan as part of your financial aid package, you will need to choose a lender. Although these loans are federally-sponsored, they are usually provided by private lenders, such as our company. You can apply for these education loans via our website.
5) Think about alternative sources of aid. For most students, the expected family contribution and financial aid package will not cover the total cost of attending school. This is where alternative education loans can help make up the difference. Complete out application to see what education loans we can offer you to cover up to 100% of your scholastic expenses.
