Subscribe in a reader10.27.06 | THE FAFSA BASICS
FAFSA: FREE Application for Federal Aid.
When applying for federal aid, filling out your fafsa is the first and most important part in determining whether or not your eligible for federal loans. You can download this free application on fafsa online . Remember this application should be free so if you see some sites out there that want to charge you for this beware. This application is based on you or your parents last year tax returns so have that info. handy to make the process go a little bit easier. When you have completed this process you should receive a Student Aid Report. (SAR). On this form it should tell you if and how much federal aid you have been awarded. This is not the last step however… Many get confused and think fafsa is the lender of the loan and the money is automatically disbursed to the school. If you are awarded pell grants or a perkins loan contact your school and if you are awarded a Sub or Unsub Stafford Loan you must then apply for that loan. I must reiterate that Stafford is not the name of the Lender it is simply the type of loan you are receiving. You can apply for this loan on Stafford Loan Further if you still feel confused you can always give one of our reps a call at the Student Loan Network… (877)328-1565.
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