How to Apply for Student Loans

Initially applying for student loans can seem overwhelming, but when broken down into clearly defined steps, the process is fairly simple and straightforward. Today every piece of the student loan application process can be handled online, making the process easier and faster than ever before.

Step One: Understanding your Options - Compare Loans

There are many lenders and several comparison websites. For the 2010 Summer and Fall, The Student Loans ScholarPoint loan search is powered by SimpleTuition. Click here to compare over 12 student loan offer

Step Two: Applying for Student Loans:

Stafford Loans are the most popular student loans and the best place to start when applying for student loans for both undergraduate students and graduate students. If Stafford Loans won't cover your expenses, there are other options such as private student loans, and PLUS loans for parents. There is generally a 30 day waiting period before you'll learn about your eligibly for student loans.

Step Three: Present your eligibility report to the school of your choice

After your student loan application is processed, you'll receive a SAR (Student Aid Report) showing the amount of federally backed funding you are eligible for. If you haven't already applied to colleges because you've been waiting to learn about your student loan eligibility, now is the time to do so. Once you've received your SAR and college acceptance letter, you're ready to start school.

The student loan process can be a very simple process once you understand the basic steps.