HOW DO I GET A STUDENT LOAN

First, read “Financial Aid 101”, by Carlyn Foshee Chatfield. This will tell you how to
complete the FAFSA. No one gets financial aid without completing the FAFSA.
Second, read “Surviving Your Student Loans”. You need to know what you’re getting into.

Student loans are available from most accredited post-secondary schools in this
country. The financial aid office at your chosen school will assist you in applying for
financial aid, including student loans. Your school may have chosen to opt into the
Direct Loan program. Your school has probably selected a private lender with whom
they work closely and who provides the Stafford lending for the campus. The Stafford
lender may be a state-run program. Listen to everything your financial aid counselor has
to tell you, and then do your research.

There are thousands of lenders who participate in the Stafford lending program. Although deferment policy is set by Congress, voluntary forbearance policy is set by the lender.
Interview lenders to determine which ones best suit your needs, and be aware that lenders sell their loans regularly. Eventually, your Stafford loans are likely to be purchased by Sallie Mae.

Decide what direction you plan to take with your life. I know it’s too early to do that, but at least give it serious consideration. If you plan to spend your life in public service, you need to press your financial aid counselor for Perkins loans since these can be discharged for public service. (There are limitations though, see “Surviving Your Student Loans”.) If you plan to be a doctor a lawyer or a stock-broker, Stafford and Direct loans often carry a lower interest rate than Perkins loans. Knowing what you want to do helps you decide what kinds of loans are best for you.

Good luck.

Master Promissory Note, Student Loan Deferment, Student Loan Forbearance, Student Loan Consolidation, Student Loan Discharge, Student Loan Grace Period, Subsidized Student Loans, Unsubsidized Student Loans, Stafford Student Loans, Perkins Student Loans, Direct Student Loans, PLUS Student Loans, William G. Ford Student Loans, Student Loan Delinquency, Student Loan Default, Student Loan Payment Options, Student Loan Case Studies, Student Loan Management, Additional Reading Relating To Student Loans, How Do I Get A Student Loan, How Do I Confirm the Status of my Student Loans, Why Do I Owe Twice As Much As I Borrowed On My Student Loans, Pending Changes Affecting Student Loans, Bankruptcy and Student Loans, Student Loans And Your Credit Report, Student Loans, Gifts.

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