Wikiprocedure

California - Guidance to Apply for Student Loan

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ProcedureEdit

Apply In-Person

  1. To apply for student loan in California (United States), the applicant has to approach the University of Alabama Students financial aid office. Link
    (Note: The above link provide the location details of the University of Alabama students financial aid office)
  2. The applicant has to download and complete the application form given in the following application form.
  3. The applicant has to fill in all the necessary information in the application form (Incomplete application forms are not accepted).
  4. Make sure the applicant has attached all the required documents that are mentioned in the “Required Documents” section of this page.
  5. Applicant should attach the photocopies of the necessary documents (whichever is necessary) along with the application form while submitting.
  6. Submit the application form to the financial aid office at the school you are planning to attend the course either directly or by mail.
  7. There is no service Fee for applying student loan
  8. The authority will review the application and contact the applicant within 7-10 days


Note: Before receive the loan fund the applicant has to complete the entrance counselling, for ensure the applicant understand the terms and conditions of the loan and right and responsibilities.


Apply Online

  1. The applicant can apply for student loan through online by completing the FAFSA form by login to link.
  2. To sign the FAFSA form online applicant need to create an account. Only through FSA ID applicant can access FAFSA form.
    Steps to be followed
    • If the applicant is the student : click “I am the student”. Then enter applicants FSA Id, username and password and click “Next”.
    • If the applicant is the parent : click “I am a parent”. Provide the name of the student, social security number and the date of birth then click “Next”.
    • Fill out students personal information such as Name, Date of Birth, etc.
    • Add list of schools the applicant considering. Applicant can add 10 schools at a time.
    • Next section is regarding the dependency status. If the applicant is an independent student they can skip the parents information in the section. If the applicant is a dependent student fill out parent information in the section.
    • Then provide financial information.
    • After that sign & submit FAFSA form. For this on the sign and submit page select “ other options to sign and submit” .
    • Then select “Print a signature page”.
  3. Before applying please make sure that you have all the required documents that are listed down the ‘Required Documents' section of this page.
  4. The applicant should make sure they are eligible for apply student loan by reading through the eligibility criteria that has been listed out under eligibility section of the page.
  5. If the application is processed, applicant will receive a copy of Student Aid report (SAP) and SAR is also sent to the colleges that are listed in FAFSA.
  6. Applicant should contact the financial aid office at the college to find out anything us needed additionally


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Required DocumentsEdit

  • Loan agreement/Master promissory note(MPN)
  • Application form
  • Applicants social security number
  • If the applicant is a dependant student parents social security number is required
  • If applicant have drivers license, number is required
  • If the applicant is not a U.S citizen alien registration number is needed
  • Federal tax information or tax returns including W-2 information, for the applicant .(and spouse if married) and if the applicant is dependent student details of parents.
  • Records of untaxed income of the applicant like child support received, non educational benefits
  • Information regarding cash, savings account, investments.


Office Locations & ContactsEdit

FEDERAL STUDENT AID DEPARTMENT
Federal Student Aid Information Centre (FSAIC)
HOURS OF OPERATION
Monday–Friday: 8 a.m.–midnight Eastern time (ET)Saturday: 8 a.m.–5 p.m. ET/Sunday: 12 p.m.–6 p.m. ET
Tel: 1-800-433-3243

EligibilityEdit

  • Applicant should have financial need.
  • Applicant should be a US citizen or non citizen enrolled in an eligible degree or certificate programme at college or career school.
  • Applicant have a valid social security number.
  • Applicant Should maintain satisfactory academic performance.


FeesEdit

There is no service fee for applying student loan.

ValidityEdit

Explain the time until which the certificate/document is valid.


Documents to UseEdit

  • Application form Link
  • Master promissory note Link


Sample DocumentsEdit

Please attach sample completed documents that would help other people.


Processing TimeEdit

Between 7 to 10 days

Related VideosEdit

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.


InstructionsEdit

  • Borrow only what you need for school related expense.
  • Applicant should understand the terms of loan and keep copies of loan documents.
  • Make repayment without delay.
  • Maintain a relation with loan service.
  • Your loan servicer* will contact you and provide you with loan repayment information.


Required InformationEdit

  • Students information
    • Name & address
    • E-mail address
    • Date of birth
    • Place of birth
    • Citizenship
    • Visa type
    • Expected starting date of study
    • List of colleges & Universities
    • Marital status
  • Parents information
    • Current marital status
    • Name & Address
    • Age
    • Occupation
    • List of family members & Education information
  • Financial information (Income from all sources)
  • Asset information (Money value of assets)
  • Expenses
  • Expected support for educational expenses
  • Students signature
  • Parents signature


Need for the DocumentEdit

Master of Promissory Note (MPN) is a legal document in that the applicant promise to pay off their mortgages and any accrued interest and cost to US department of education. It also explains the terms and conditions of the loan.

Information which might helpEdit

  • Applicants must complete the application form before submitting it. Incomplete applications will not be accepted.
  • Applicants must provide genuine information while applying for this procedure.


There are four types of Direct Loans available:

  • Direct Subsidized Loans - undergraduate students are eligible for apply it.
  • Direct Unsubsidized Loans - undergraduate, graduate, and professional students, are eligible for this.
  • Direct PLUS Loans - graduate or professional students and parents of dependent undergraduate students are eligible for this loan.
  • Direct Consolidation Loans are for all eligible federal students.
  • Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.


Other uses of the Document/CertificateEdit

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.


External LinksEdit


OthersEdit

More information which might help people.


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