How to Apply for College Student Loans

Applying for a college student loan can take some time, so remember to be patient and start the process far enough in advance that you are not rushed in completing the proper paperwork. The first step is to complete your FASFA form.

It is recommended that you complete this application online and in order to do that you will need a PIN number. This PIN will give you access to everything you need to complete the application and it will also allow you to sign the form electronically. If you are a dependent student, your parents will also need to request a PIN number. Your parents must fill out parts of the application. You will be notified of your PIN either in an email or by mail. It is best to apply for a PIN as early as possible.

You will need the following information to complete the FASFA completely and accurately:
• Your Social Security number and also your parents if you are a dependent student.
• The latest years W-2s and earning forms. Your parents will also need theirs.
• The latest year’s federal tax return for you and your spouse. If you are a dependent student, your parents will need theirs.
• Any foreign tax returns or any tax returns from Puerto Rico.
• Your current bank statements, business and investment mortgage information; business and farm records; and stock, bond and other investment records.
• Your alien registration card if you are not a US citizen.

You can save the form and go back into it and add any information, but it is probably best if you gather all the information before you start.

Follow the instructions carefully and they will walk you through the application. They are relatively user friendly so you should not have any problems completing FASFA student loan application. You can send this application to up to six different schools.

After submitting the electronically signed application, you will receive a Student Aid report (SAR). This information will be sent to your requested schools and you will need to verify your SAR for accuracy and make any necessary changes.

The financial aid offices at the schools you selected to receive your student loan information will send you an award letter, informing you of the types of financial aid you are eligible for.

When applying for a college student loan you should gather all your information before you start the application. You should verify that all your information is correct. Incorrect information will slow the application process down. Always start filling out the application earlier enough to allow you ample time to meet the deadlines.