Student Loan Applications Online – How To Pay For College

student loan application online

Student Loan Applications Online

How To Pay For College Tuition is becoming a big question for more and more college students.

There are a few different options and places to review and apply. We will look at 3 key areas where you can find student loan applications online.

This article is about paying for college tuition and getting student loans. We discuss the process below and have listed a couple of issuers we recommend. This includes options for getting a private student loan or even refinancing existing student loan debt.

Just select from the two links below to review your options for private student loans or student loans refinancing depending on your needs.

Compare Private Student Loans with Credible to find the best rate

Refinance with Credible and save on your student loans

What Types of Student Loans Can I Get and What is The Process?

Federal Student Loans and Applications

Firstly, you can go to the Federal Student Aid website at www.studentloans.gov

Just a note, as of May 10, 2015 when you use the site you must have a verified FSA ID (Username & Password) instead of a PIN to log in to StudentLoans.gov.

When you apply for a federal student loan, you must first complete and submit a Free Application for Federal Student Aid (FAFSA). This is another government site and is located at www.FAFSA.gov

Once you fill this out you will receive the results of your FAFSA and then your college or career school will send you a financial aid award letter that can summarize and include the federal student loan options available to you.

It is a fairly simple process and you just need to go through it and get it done. Do not procrastinate and fill it out completely per the instructions.

You will need to complete this process every year.

Private Student Loan Options

If you don’t qualify for a federal student loan, maybe because you parents make too much money you can check out private student loans.

Below we list some good providers to check out if this is the route you need to go to get your college tuition paid for this year.

Sallie Mae has a program offering called The Smart Option Student Loan®. This offers multiple repayment options and you can actually even choose no payments while you are attending school. This deferred option can be nice while you have the burden of taking your classes and passing tests, but can also be an expensive one as the interest accrues every day on the outstanding balance. Just something to think about and if you can get a part time job to even send in a small payment each month it can really help save you money in the long run.

You can find Sallie Mae student loan applications at www.salliemae.com

Credible.com

This is a great resource for saving time and money. They have multiple lenders in their network that can review your requirements to fit your needs.

Compare Private Student Loans with Credible to find the best rate

Refinance with Credible and save on your student loans

Discover Student Loans is another option most people do not consider. They have some really creative loans and benefits of going with them.

Some of these benefits are such things as Cash Rewards for Good Grades. You can also get $2,500 Scholarships.

They have 100% US-Based Specialists and Zero Fees. They claim to have a very quick and easy approval process so it might be a good option to check out.

Discover is normally known for their credit cards for Cash back. They also have a whole line that specializes in credit cards for college students. So it does make sense that they would get into the privatized student loan business.

Peer to Peer Loans

Most of us think about going the way of a bank for a student loan. If you are your parents have good credit you may be able to qualify for an unsecured personal loan. It is called peer to peer loan because individual investors fund the loan over their lending platform. You will fill out one easy form and get a rate quote based on the information you provide. The entire process can be done online.

For peer-to-peer loans we recommend LendingClub.com

Lending Networks

Another source for personal loans is a lending network. They have multiple lenders in their loan network that will connect you to a lender for a personal loan.

The lending network we recommend for personal loans is PersonalLoans.com

Summary on Student Loan Application Options Online

Ok, so to summarize what we have discussed.

1) Fill out your FAFSA first to see what you can qualify in regards to Federal student loans.

2) If you do not qualify try to look at Private Student Loans as another option.

3) Review Peer to Peer loans to see if you could get an unsecured personal loan.

4) Get an unsecured personal loan through a lending network.

The student loan application process can involve work on your part, but if done right can assist you in getting the funds needed to accomplish your goals.

One of the main things is not to put it off or wait till the last minute. Get organized and put it on your calendar or to do list.

Try to find work study programs or part time jobs that can offset the amount you will have to borrow.

Even if these loans are deferred you will have to pay them off at some point. Also, remember any money you are borrowing for student loans is unforgivable debt which means it cannot be wiped away even if you file for bankruptcy.

So applying and getting scholarships as well as working while in school to minimize student loans are very important.

Also utilizing peer-to-peer and unsecured personal loans can also offset the amount of student loans you will need to take out.

We hope you are now a bit more educated on the student loan applications process.

Bookmark this page as a resource to come back to when reviewing your options for private student loans, student loan refinancing and unsecured personal loans.