| FAFSA is Your Ticket to student loans? | | | | members. |
| FAFSA is your only entry into the world of federal | | | | - Seek help from your high school counselor or a |
| student loans. You can also find yourself the recipient | | | | college admissions advisor like we did. |
| of a federal grant and work study programs to boot. | | | | When you receive your SAR, you will find a lot of |
| Without a Student Aid Report (SAR), your chances | | | | information but the two most important aspects you |
| of getting the best student loans are almost nil. | | | | need to be concerned with are: |
| FAFSA, stands for Free Application for Federal | | | | - EFC |
| Student Aid. The feds are your best place to get a | | | | - Eligible Loans |
| college loan because they have the money to lend at | | | | EFC stands for Expected Family Contributions. In your |
| a decent interest rate and the government will | | | | report they will tell you how much they expect you |
| actually make your interest payment on some of the | | | | and your family to contribute to your college |
| loans. | | | | education. The remainder of the monies needed for |
| The application usually is completed online (spanish | | | | college will come from your student loans. |
| version as well) but we recommend downloading a | | | | Eligible loans are basically that. You'll receive a list of |
| copy and printing it out. It will take you time to | | | | federal unsubsidized and subsidized student loans that |
| research and find the answers to their questions. | | | | you qualify for. These loans will usually be a Stafford, |
| First you need to create an account with FAFSA. | | | | Perkins Loans or Pell Grants. |
| This pin number will allow you to proceed with filling | | | | Keep a couple of things in mind: |
| out the application. You will then continue to use that | | | | 1. The colleges you chose on your report will also |
| pin number as long as you are applying for federal | | | | receive your SAR report and if you receive federal |
| student loans. Basically it is a virtual account system. | | | | monies, they will take money out of the loan for |
| CRITICAL NEWSFLASH | | | | tuition and then send you the rest of the money to |
| - Many institutions use the report to help them | | | | use on school related expense. |
| determine what type of student loan you are eligible | | | | 2. You can choose to accept the total loan, partial |
| for. It is not strictly used for federal purposes. | | | | loan or no loan at all. And you can choose which loan |
| - Money or loans are awarded on a first come first | | | | institutions you want to go through. |
| served basis. | | | | The first time you fill out the FAFSA you will |
| - January is the start date that you can apply | | | | probably say to yourself: "this is the last time I'm |
| through FAFSA to get student loans for the following | | | | doing this", but trust me, it is easier the second time |
| fall quarters. | | | | around. Just don't forget to fill it out early in the |
| - Last year we completed our FAFSA in February | | | | calendar year so there will be money for you. |
| and still received our student loans for 2 family | | | | |