How to Apply for Financial Aid

This article has put together everything you need to know about applying for financial aid. There are 5 steps in the financial aid process. This will help you with each step. To make sure your education is not interrupted, you should complete each step as soon as possible.Your chosen School will not permit you to start class if you are missing any financial aid documents.

Step one. Get your pin

This is a pin number that allows you to apply and review your information. It is an important part of the financial aid process. It has a variety of uses in the process. And your schooling. Once you have your PIN number it is a good idea to keep it in a safe place. How to get a PIN. Simple go to the Department of Education PIN Registration site and click on "apply for PIN" you should receive an email with a link to your PIN within 3 days. A PIN requested by mail will take longer.

Remember once you have your PIN keep it in a safe place.

Step Two:Submit your Free Application for Federal Student Aid.

Once you have your PIN go to the FADS website to fill out your application. When it is completed Use your PIN to electronically sign your application. Then click on "Submit My FAFSA Now" Write down your conformation number you are assigned and your Expected Family Contribution number this is what you or your family is expected to pay. You will recieve your Student Aid Report in a couple of weeks. You may also request your original papers to be mailed to you if you wish not to submit them online.

Step Three: Recieve and review your award letter.

After you have completed the first two steps a letter will be sent to you either by email or postal mail depending on the choice you made. This is an estimation of your financial obligation. Once you receive this letter review it. If you approve it you submit it to the college you choose to attend the advising team will help you through the rest of the process.

Step Four: Take and Pass the Loan Entrance Counseling Quiz.

To be eligible for Federal Financial Aid you must complete the entrance quiz. Please note This is a requirement of the federal government. It must be completed for Federal student loans.

Step Five: Signing The Master Promissory Note.

This is the final step in applying for Federal Student Aid. You must do this before you can receive your Federal loan. You can electronically sign your promissory note or request it to be mailed to you. How ever mailed Promissory notes takes longer to process then the electronically signed ones do. You must schedules your college entrance accordingly.

Its simple to apply for Financial Aid. All Federal Loans must be paid back but you don't start your payment schedule until up to 6 months after graduation. This is another alternative to paying for your education. And for those of us who do not qualify for Federal grants it may be our only alternative.