College expenses are rising every year. Inflation is unable to keep up with college tuition, and as a result, many students and families are turning to college loans to help pay for college. Private student loans have become more popular in recent years but can come with a host of problems. The original student loan program, the Stafford loan, is one of the best ways to receive additional funds for college. Read on to learn apply for Stafford loans and grants for college by filling out a FAFSA.
Instructions
1. Open your web browser and go to the United States Department of Education Free Application for Federal Student Aid (FAFSA) website.
2. Read the information that is on this page, as it will give you an idea of what you will be doing while filling out the FAFSA application.
3. Click on “1 Before Beginning a FAFSA” in the left-hand menu. Read the time saving suggestions listed. If this is your first time filling out a FAFSA online, click on the option to “Apply for a PIN now!” Complete the PIN application.
4. Click on “2 Filling Out a FAFSA” after you have applied for your FAFSA PIN.
5. Click on the “Start” button next to “Fill Out My FAFSA.” Select the year that you are applying for and then click on “Next.”
6. Follow all of the on-screen prompts. You will fill out several pages of data which may be different based on the information that you submit. You will need to have a copy of your previous year’s taxes for part of the application. You will also need to choose a school (or schools) to have your FAFSA sent to after completion.
7. Verify that your FAFSA is completed and submit the information. The FAFSA will be processed and sent to the schools that you listed on your application.
8. Follow-up with the school’s financial aid office to verify that they have received the FAFSA. Upon receipt of your application, the school will provide you with your loan and grant determinations. Some students may qualify for grants, subsidized Stafford loans and unsubsidized Stafford loans. For those who don’t have financial need, the only product that they will qualify for is the unsubsidized loan plan.
9. Approve your grant and loan award through your school’s financial aid office and ask about disbursement dates. These dates will vary from school to school, but after you have received notification of your award, you merely have to wait for disbursement of your Stafford loan or grant.
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