| When starting college the need for finance is almost | | | | amount of money he will need will be. The difference |
| always unavoidable. | | | | between these numbers will usually be the sum the |
| There are many sources of finance; however, the | | | | applicant will be able to request to the department of |
| most popular are Government Grants and loans since | | | | education. |
| they come with lower interest rates and longer | | | | Qualification |
| repayment programs than private loans. | | | | These loans have specific requirements you'll need to |
| The US Department of Education | | | | meet in order to get approved. If you fail to meet |
| The US Department of Education concentrates | | | | any of these requirements you'll provably get |
| almost all government aid for those who need | | | | declined. However, don't despair as if you contact the |
| finance to go to college. This department is known | | | | department they'll probably help you solve the |
| for being extremely precise and strict with its | | | | problem. Following is a list of the most significant |
| proceedings on loan application. You'll need to be | | | | requirements: |
| prepared and have all the information prior to applying | | | | 1) US Citizenship |
| for a loan. Otherwise you'll be searching around for | | | | 2) Valid Social Security Number |
| forms, and trying to collect all the documentation | | | | 3) Feasible financial Need |
| that you need over and over again. | | | | 4) Eligibility for Higher Education |
| The Applications | | | | 5) No Defaults or Bankruptcy in credit report |
| When you want to apply for a Federal Loan, you'll | | | | 6) No Convictions |
| have to fill a form. This form is known as Free | | | | 7) High Grade Point Average |
| Application for Federal Student Aid Form (A.ka. | | | | Different Options |
| FAFSA). Within this forms you'll have to include a lot | | | | When it comes to the US Department of Education |
| of personal and family information that's necessary | | | | Aid, there are at least three possibilities that can be |
| for the department to consider your application and | | | | taken into account: Federal Grants, Student Loans |
| to calculate the amount of money you'll be able to | | | | and Student Work Programs. |
| request. | | | | Grants are a form of financial aid that doesn't have |
| With all this information that will be thoroughly | | | | to be paid back, the requirements for this type of |
| checked, the department will come to know with | | | | loans focus on financial need and inability to obtain |
| how much money the applicant's family will be able to | | | | finance through other means. Usually, grants are |
| contribute to his education and what the total | | | | processed on a first come - first served basis. |