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How Can You Obtain a Student Loan?

By Brown Ezilon.com Articles Published 05/29/2011 | Student Loan & Consolidations

A student loan is nearly always unavoidable nowadays. The charges for colleges and universities charges are so high, between room and board, as well as issues concerning books, supplies, food and even class or lab fees that it is hard for students to come to terms with all these expenses. College expenses can amount to over 30,000 per student, and not all parents can afford to pay such prices.

Filing for financial aid and applying for a student loan is easy, as long as you know how start the process. This kind of loan is not as difficult to obtain as many people seem to think. Although each process is different for each particular student there are common factors that apply to all those requesting a student loan.

All students should request financial aid and a student loan, whether or not they may qualify for such a loan. There are a number of factors involved in the eligibility process and this offers the possibility for every student to apply and receive approval.

Another important issue is that the application for Federal Student Aid (FAFSA) is free of charge and this will determine the students eligibility for the student aid program and other private grant and scholarship programs.

A student loan comes in different programs. There are two categories available for them. One is government loans and the other is private loans.

The government student loan, also known as a Stafford Loan, is the kind of loan a student should apply for in the first place. Parents may consider applying for a government student loan or PLUS Loans as they have been specifically conceived for parent use. Sometimes a private student loan can offer better options and terms than a government student loan program so it is best to carefully study your options on the internet and other sources.

A Federal Unsubsidized Loan is a student loan based on no-need. Every student who meets the eligibility requirements could meet the criteria for Federal Direct Unsubsidized Loans. There is no need for a co-signer to apply for Federal Direct Unsubsidized loans.

A Federal Subsidized Loan is paid directly to the student. A person can apply for this financial by filling out and submitting a Free Application for Federal Student Aid (FAFSA form). Fundamental criteria must be met, which is determined by people of the federal government.

Student loans are easy to obtain and the internet as well as the government make procedures simple and student loans more easily accessible.