The FAFSA Student Loan Application ProcessThe information you submit with your FAFSA will include all relevant…
- W-2 forms and other records of money earned
- income tax returns from all parties from the previous year, including the 1040, 1040A, 1040EZ, foreign tax return, or any tax return for Puerto Rico, Guam, American Samoa, the US Virgin Islands, the Marshall Islands or federated States of Micronesia
- records of untaxed income, including Social Security and Temporary Assistance to Needy Families, as well as any welfare or veteran benefit records, as apply
- current bank statements, including mortgage information, business or farm records and all investment profiles such as stocks, bonds, etc.
- papers concerning non-US citizenship status, such as permanent residence card, etc.
You will also need to include school information. Know ahead of time all the schools you are interested in and to which you will be applying. This way, information on the FAFSA form will be forwarded to the institutions' financial aid offices to streamline and speed up all processes, so you can be properly awarded.
File the FAFSA Online
The best way to file your FAFSA is to do so online. This is certainly the fastest way to file. It is also as safe as any other method of filing, and it is free unless you choose to get professional help. You can get professional FAFSA help by clicking on the links nearby.
The FAFSA provides important information that will eventually be returned to you in the form of your Student Aid Report. Once you receive your SAR, you will apply for student loans. Some of the most common student loans you will apply for are:
- the Federal Stafford Loan
- Federal PLUS loans that will apply to parents of undergraduate students.
- Perkins loans
If your FAFSA comes back with no federal aid available, you can apply for Alternative student loans or private student loans.
© Online Learning 101. Used by permission. Online Learning 101 has a complete guide to student loans, with FAFSA tips, loan consolidation advice and more. www.onlinelearning101.com