Application tips: Stafford student loan

The Stafford loan is one of the primary types of federal loans in the United States. Stafford loans are preferential to private loans, as they can be subsidised and have a much lower rate. Here are some tips to getting started on your Stafford loan

Get started with the form

If you want federal education loans for college, you will need the Free Application for Federal Student Aid (FAFSA). This is the form which is a must for the Stafford loan. The FAFSA is sponsored by the U.S. Department of Education. You may fill out the form online if you wish. Filling out the FAFSA can be a bit time-consuming, as there are well over 100 questions. You will also need to gather all pertinent information to fill out the FAFSA. The FAFSA will need your income, size of household, and other areas. Once you have filled out the FAFSA, the Expected Family Contribution (EFC) will be determined, which will provide how much federal aid you will receive. Remember that Stafford Loans represent one type of federal assistance. You may, if you have a low EFC, be eligible for a Pell Grant, for instance.

Tips for completing the FAFSA

Educational loans sponsored by the Government are of great value for students. There may be a time, when you are filling out the FAFSA, when you have some questions. If you are having some difficulties with the FAFSA, the best thing to do is to contact your school. Speaking to a financial aid advisor will be of great help. He or she will be able to walk you through the process, whether you are unsure of how to approach a section or proceed from the result. Always be in close contact with your school's financial aid department. Even if you have no problems with the FAFSA and are ready to accept your financial aid reward, it is important to keep in contact for further dates. For instance, it is common for the school to receive the loan and then disburse it to the student. If you are waiting on the money for certain expenses, it will be essential that you know such important dates. Do not be afraid to ask questions in order to do well with the FAFSA and the whole process.