How Do I Receive My Student Aid Loan?

In order to receive a student aid loan, you must first complete an application for federal aid. Student loans come in a few different varieties: subsidized, unsubsidized and parental. Sometimes the government will award a student more than their tuition requires. In that case, the extra funds are sent directly to you to help cover your expenses while you study.

Things You'll Need

  • FAFSA application
  • Last year's tax return
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Instructions

    • 1

      Fill out your Free Application for Federal Student Aid (FAFSA) online (see Resources). To fill out the FAFSA, you will need your tax return information from the previous year. You will also need your FAFSA personal identification number (PIN). If you don't have a PIN, apply for one before starting your FAFSA application and they will mail it to you.

    • 2

      Check your university email at least twice a week to see if they have sent you a request for any additional documents. Supply your university's financial aid office with any additional documents they request.

    • 3

      Read over your award notice when they email it to you. It will outline your loan disbursement, interest rate and the type of loan you will get.

    • 4

      Fill out your acceptance letter, which your university will mail to you. Mail it back to them at the address they specify in the packet. Include a voided check with your bank account information if you want any excess loan money deposited to your account.

    • 5

      Wait for the financial aid department to process your acceptance letter. The university will collect your tuition loans directly from the government. Any additional funds over and above your tuition will be deposited into your specified bank account, or mailed to you as a check.

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