Introduction
A federal student loan is responsible for many students whore are getting into colleges. Some times these loans are more than enough of the basic financial requirements of a student. Applying for the federal student loan takes away the irritation of a private loan application. Most of the loans are also very easy to apply due to the advent of technology that allows you a student to apply online. The paperwork that would have taken very many hours and sometime to complete can now be preformed online. Some times, it only takes two or less hours to complete the application. You will also have the permission to print out the application details that you filed so that you can keep some personal record.
Step 1
The first step involves gathering and collection of all the paper work that is required to apply for the federal student loan. In order for the process to entirely begin, you will need some few important details with you. They include the social security number, your driving license number, the most current income tax return, some bank statements to show you credit report and some times any investment document that you hold. All these will be required before your request for a federal student loan can be processed.
Step 2
The second step involves filling out the FAFSA (Free Application for Federal Student Aid) and its filling either by mail or electronically in the websites. The Free Application for Federal Student Aid application document or form can be found online. Enter your personal information and then create a list of all the schools that you would want to receive a copy of your federal student loan details.
Step 3
The next step in acquiring a federal student loan is application for a personal identification number. When you first visit the FAFSA website, an application for a pin request will be given to you .Apply and keep it safe, this pin will be used every school year to access you FAFSA account. Any detail that is not clear in the account can be re-verified and confirmed thoroughly and that is why the pin is very important
Step 4
The student aid report must be sent two you in a few days after the filing of FAFSA application and you must take your time to review it. This review is very important for someone looking for a federal student loan because it presents another opportunity for confirming and evaluating of the personal data you previously entered. After the confirmation and evaluation, you will sign and then send it back to the listed address on the sent envelop.
Step 5
The last step requires much patience because it is the last step. After filling the necessary application forms for a federal student loan, you will receive a student receive letter from your prospective college. This letter will list down all the financial support that you qualify for.
Tips
Sometimes to increase the chances of getting the federal student loan, you can ask your prospective school about any opportunity of taking an eligibility exam. This is an alternative path that was established some few years ago for students who want the federal student loan and did no pass their GED tests. This Ability to benefit exam tests two areas of study that are very important. They include the math skills and the English and reading skills. Passing this test
Sources and Citations
http://www.ehow.com
