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.
Compare Private Student Loan Lenders at LendEdu.com to see who the best option is for you.
If you are a college graduate and have multiple student loans and debt already and would like to refinance or consolidate your student loans at a lower rate you can read about how to do this via this recommended website at www.Sofi.com/studentloans.
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
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.
You can find the Discover Student Loan Application at www.discover.com/studentloans
Peer to Peer Loans
Most of us think about going the way of a bank for a student loan. There is a new development in loans and how they get funded. It is called peer to peer loans and you can apply online and get funded by individuals or peers.
It is an interesting and maybe more creative option to getting some of your student loans funded.
A couple good options for peer to peer lending are listed below.
3. Another option is Avant Personal Loans which is another fast growing peer to peer lender.
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 qualify and possibly get funded.
The student loan application process can involve work on your part, but may be the only option for some to pay for that college tuition so you can get your degree in your chosen profession.
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 your to do list on your iPhone so you won’t forget.
Also, 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.
We hope you are now a bit more educated on the student loan applications process.
Related Student Loan Resources Online
1. “Ultimate FAFSA Resource Guide”
A visitor of our site left a nice email that she had found this page very useful and recommended this other helpful resource.
Her message said, “I found your Student Loan Applications Online – How To Pay For College Tuition page today while doing some research on completing the FAFSA. Just wanted to say thanks for putting this together – I found it to be very helpful. I wanted to also suggest another useful resource guide on the same topic. I thought your visitors would probably find it valuable as well. Let me know what you think – hope you have a great day!
First off I just wanted to say Thank You Stacy K. for the input and resource. Because of your note I have added this Resource section at the bottom of the page. If other visitors have any other great Student Loan Applications resources for others to use, leave me a comment or use the contact page to send your recommendation and I will add it.