How do I apply for student loans?

In New Mexico, students looking to apply for student loans can do so in a few different ways. The first step is to fill out a Free Application for Federal Student Aid (FAFSA). This form is available online at fafsa.ed.gov and must be completed each year a student is looking to receive student loans. Through this form, the student will enter financial information for themselves, their parents, and any other applicable household members. This information will help determine the amount of aid the student is eligible for. The second step is to consider the types of loans available. Federal student loans offer some of the most affordable options and can be found through FAFSA or directly from the U.S. Department of Education. Other private loan options may also be available and should be explored in depth to understand the terms and conditions. The third step is to contact your school’s financial aid office. Once your FAFSA is complete, the school will use the information to create an offer of financial aid. Contacting the financial aid office can help in understanding the full range of aid available to you and answer any questions you may have. Finally, you must complete the official forms associated with the loan type you have chosen. The forms will require further information including signature and agreement to certain terms and conditions of the loan. Once all forms have been submitted and approved, the loan money will be sent to your school and you will receive the funds to use on your educational expenses.

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How do I apply for student loans?

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