You fill out the Free Application for Financial Aid. Once it’s accepted, the government will tell you what your expected financial contribution to your own education is. Next – you apply for financial aid at your university of choice. When they complete your financial aid award, it will indicate whether you are eligilble for a Stafford Student Loan. In most cases, you’ll be eligible for at least an unsubsidized Stafford Loan, but if you have unmet need, then you may even qualify for a subsidized Stafford Loan, where the government pays the interest until you begin repayment.

The most important piece to remember is you cannot just apply for a Stafford Loan – you have to have something from your Financial Aid office that says you are eligible. They will also tell you who their preferred lenders are; sometimes it’s easiest and most equitable to use them.

Everyone else really answered your question, but I just wanted to say I love Suze!!! Reading her book Young Fabulous and Broke totally helped me figure out how to get out debt, how to rebuild my credit and how to make a budget. She is awesome! Good for you for taking her advice and trying to get the best loan for yourself.

You need to complete the FAFSA. That is the main application for financial aid. You school will send you a financial aid award letter, and it will say whether or not you got a stafford loan.

Students who are looking for a bad credit student loan should pick three schools they are most interested in, talk to the admissions office, and ask what is needed to apply in their school.A bad creditdepending on whether you are a homeowner or not. The rate of interest to be paid on unsecured bad credit student loans is higher than that on secured bad credit student loans. This is because the secured bad credit student loans are backed by your home as a security.