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What are FAFSA student loans?

I have recently completed my high school education, and I’m looking forward to joining one of the top universities in the near future. However, my family is not rich enough to support my education, and I have been researching on information that can enable me access financial aid. First of all, I wish to be educated regarding the meaning of FAFSA student loans and student federal loans as well as how I can access them.  Also, I will appreciate if anyone can help me understand how to apply for a student loan. Finally, kindly guide me on how to apply for Stafford loan.

Jan Berry

in Student Loans

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Jeremy Wood on June 18, 2018

FAFSA is an online application for college financial aid eligibility evaluation. It stands for Free Application for Federal Student Aid. A FAFSA student loan is basically a federal loan that is offered to students after making through the eligibility criteria. In most cases, FAFSA is used by higher learning institutions to compile federal students’ aid package that includes work-study programs, grants, and federal study loans, as well as other school and state financial assistance programs. FAFSA forms are prepared yearly by both prospective and current university students.

Be careful and avoid confusing FAFSA with CSS profiles which are also requirements by some institutions. Note that a CSS profile is a product in most college boards that is based on a candidate’s ability to pay his or her education expenses. It is used by learning institutions to distribute their own student aid.

A federal student loan is a type of loan given to students by the United States government through the Department of Education. Almost every student is eligible for this kind of financial assistance.

Many college applicants do not understand how to apply for student loans. Before you can access any loan, ensure that you meet all the eligibility criteria. If you can meet the following requirements, feel free to start your loan application process:

  • For the purpose of conscription in the US, you must have registered with the selective service program. Females are exempted from this rule.
  • Have satisfactory academic progress commonly known as SAP.
  • Must be the US citizen/national, or registered non-citizen who meets other criteria needed by the Education Department.
  • Must be a high school graduate or a holder of GED.
  • Have a Social Security number.
  • Signed the certification statement which will state that the loan will only be used for study-related purposes and that you do not owe any money to a lending organization.
  • Free of drug-related criminal tendencies during the administration of the aid.

If you do not qualify for need-based financial assistance, you can apply for Stafford loans. These loans can be both subsidized and unsubsidized and accessed by any student regardless of their circumstances or income levels. The federal government normally pays the interest on any subsidized loans. This is usually possible when the beneficiaries are on deferment or when they are still studying. If you apply for unsubsidized Stafford loans, you will be responsible for interests that accrue while you’re pursuing your studies. Most importantly, it is worth understanding that direct Stafford Loans must be paid back and are accessible to all college students. 

Cynthia Baker2 years ago

I entirely concur with the above explanation regarding FAFSA student loans, federal study loans and Stafford loans.  The United States higher education sector offers a diverse range of financial aids. It has also partnered with other lending agencies to provide eligible candidates with extra funding.  The main students’ aids are:

  • Pell Grant

With this grant, students with dismal anticipated family contribution can get a maximum of $5,815.

  • Stafford Loan

It is another very common source of student funding. In addition to what was discussed above, keep in mind that both federal direct subsidized and unsubsidized loans’ interests are fixed at 4.29%. The only difference is that the government covers the interests on the subsidized loans.

  • Federal Perkins Loan

It resembles Stafford loans in so many ways but is awarded directly by colleges which have Title IV – eligibility.

  • Federal Study-Work Program

In this program, the government pays half of the of the student’s salary whereas the school will pay the rest.

The only sure way to access these aids, ensure that you register at FAFSA. 


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