What is a student loan?
To get a federal student loan, an applicant first has to fill out a FAFSA, which is then submitted to the school the applicant plans on attending. Once the school receives the FAFSA, they put together a financial aid offer for the student, which can include both grants and loans. If the student wants to accept the offer, he or she first has to attend entrance counseling and sign a Master Promissory Note, or MPN.
How do you apply for federal government student loans?
Students apply for all federal government student loans by filling out the Free Application for Federal Student Aid, or FAFSA, reports Federal Student Aid. Students can fill out the FAFSA online, print out or order a paper copy, or
file the FAFSA through their school.
Are you obligated to sign an FAFSA promissory note for student loans?
Students are not required to sign a promissory note when the file the FAFSA, or Free Application for Federal Student Aid, advises Fastweb. However, if the student decides to accept a federal student loan, the applicant must sign a master promissory note to receive funds, advises the U.S. Department of Education.
How do you create a direct Stafford loan estimate?
Create a direct Stafford loan estimate by applying to an institute of higher education, completing a Free Application for Federal Student Aid and receiving a financial aid package from the college's financial aid office. The loan offer from each school varies based on several factors.
How can you apply for financial aid for school?