One requirement of obtaining a school loan is that the student must be enrolled in an accredited university of college at least part time. This means the student has to take a minimum of 12 credits in order to be eligible for a student loan. Once a student falls below this limit, then the student must start repaying the student loan once the six month grace period is over. Students are also required to be a United States citizen in order to receive a student loan.

To apply for a school loan, students can go to the financial aid office of their college or university. For a federal student loan, students are required to fill out the Free Application for Federal Student Aid, the FAFSA, and this application can also be found online at http://fafsa.ed.gov - Once a student fills out the FAFSA application, they will find out if they qualify for a student loan, and exactly which loan they qualify for. Depending on the students level of financial need, grades and eligibility, and parent’s income, the student will be awarded a certain amount specifically for their student loans. If the student should need more to cover expenses, an additional student loan can be sought through a private lending institution. These loans are traditionally referred to as private student loans.

To learn more or to locate private school loan offers visit www.schoolloan.org

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