When And How Do I Apply For A Student Loan?

It has been said that good things come to those who wait but that's not the case when we're talking about student loans. Once you've decided to continue your education you should start applying to colleges, and once you get accepted to an institution you should start applying for student loans as soon as you can. To get into a university you'll need good grades, and good SAT scores. To apply for a student loan in the U.S. you'll need the following:

• Your name, address and contact information - Make sure you get this correct on the application as this is needed for verification and response purposes.


• Name address and phone number of a reference - Again make sure you get this correct, and ask this person ahead of time if it's alright to use them as a reference.


• Employers name address and phone number (may not be applicable).


• Current driver's license or state ID number - By this time in your life you will or should have one or the other.


• Your Social Security Number -This number is required to open a bank account, obtain a credit card, get a drivers license, buy a car, get health insurance, open a retirement account, and yes, get a student loan. You do have an SSN don't you?


• Monthly housing expense (If you're living at home this mostly likely won't be applicable).


• Loan amount you're requesting - Basically this is the total cost of your education less any financial aid that you've accepted.

Also, in order to get a student loan you need to be actively pursuing a degree at an "eligible institution", and have a good credit history (or a cosigner with a good credit history). Getting a student loan will help you make one of the greatest investments of your life...An education.

John Martin is an IT professional, an avid writer, and the owner of the "must see" financial resource website aloanandlovingit.com

John's always informative, and often humorous information has helped thousands of people get their personal finances in order and avoid some of the money-related pitfalls that face them on a daily basis. Do your life a favor and follow the advice on aloanandlovingit.com.

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