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How to Understand How Long it Takes to Receive a Student Loan Once the Application is Received

How long does it take to get student loan money? It may seems like an eternity. Student aid takes a lot of paper pushing through a lot of bureaucracy before the check gets in the mail. Here's what goes on while you're sweating by the mailbox.

FAFSA
student aid report
computer

Instructions

- 1
  File the FAFSA (Free Application for Federal Student Aid) after January 1. This application takes at least a month to process.
- 2
  Get your SAR (Student Aid Report). Check this over for mistakes and send to your school.
- 3
  Your school uses the EFC (Estimated Family Contribution) on your SAR to determine how much aid, including student loans, you will need to attend classes. This step can take a month or more.
- 4
  Receive notice from your school about your aid package.
- 5
  Fill out paperwork for student loans.
- 6
  Get money. Usually, student loan funds are disbursed during the first week of classes.

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