Federal Student Loan from US

Federal student loans are amongst the most popular of the loans and grants you will be qualified for when applying for financial aid for your college or university. Federal student loans always have to be paid back (unless you receive a grant, which does not have to be paid back), and will most likely be the bulk of your financial aid.

What Are Federal Student Loans?

Federal student loans come from the Secretary of Education - a part of the Federal government. This is the biggest source of financial aid in the form of Federal student grants and loans than any other place that offers financial aid. According to the United States Department of Education, the programs they offer provide more than $80 billion a year in grants, loans, and work-study assistance.

How Can You Apply For One?

You can apply for federal student loans in many ways. You could search online to apply directly online through the government's websites. You could go to your city hall or local library and ask them for the forms you need to fill out (although you will need to know what forms you need). You could also go to your school's financial advisor and ask them for the forms (they usually have copies of all sorts of different student loan applications), and you could also ask your school's financial advisor where you could go online to apply for federal student loans.

Do I Need A Cosigner Or Good Credit?

They will check your credit report to see how it is. Some may deny you because of poor credit or no credit. If you do have poor credit or no credit it would be best to have a reliable cosigner to help you. See your financial advisor for all of the details on credit checks for each of the different federal student loans.

What Information Do I Need To Provide?

According to the Department of Education, you will need to provide the following information -

1. Demonstrate financial need (except for certain loans)

2. Have a high school diploma or a General Education Development (GED) certificate, pass a test approved by the U.S. Department of Education, meet other standards your state establishes that the Department approves, or complete a high school educationin a home school setting that is treated as such under state law

3. Be working toward a degree or certificate in an eligible program

4. Be a U.S. citizen or permanent citizen with a valid card

5. Have a valid Social Security Number (unless you're from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau)

6. Register with the Selective Service if required

7. Maintain satisfactory academic progress once in school

8. Certify that you are not in default on a federal student loan and do not owe money on a federal student grant

9. Certify that you will use federal student aid only for educational purposes

Since most of your student financial aid will come from federal programs you will need to make sure that you qualify for as many as you can to save yourself money in the long run.