When is the best time to apply for student loans?

Question

I have already filled out the FAFSA and I have an award for this semester, but the school that I intend to transfer to next semester is much more expensive. I haven't applied yet, but I was wondering do I apply for loans for next semester now or wait until after I apply to the other school or am accepted or what? I am sorta confused.

Answer 1

you should do everything at the beginning of Jan. usually the year before you plan to start. so if your transfering in sep 08 apply jan 08 for EVERYTHING fafsa. grants and loans.

Answer 2

You will need to have the school name changed on your SAR to the new one and have your financial aid info sent there for them to determine your eligibility. Remember, you are only able to get a certain amount in stafford loans each year. You will only have half for the more expensive school. If you didnt get a Pell Grant at the first school, chances are you wont at the more expensive one. If you know for sure you are going to the other school, I would wait until the rush of the fall is over. As a former director, i didnt even review spring files until I got the fall under control again. You should be able to go on line to make the school name changes which will save you time. If you do this in late September, you should be fine, however check with the school for any deadlines just to make sure. Also, if they do Perkins loans, these funds will be limited and you might need to apply earlier. Again check with the school for the real details. Good luck!!

One more thing, if you were packaged for the whole year, you will need to have the first school cancel your loan disbursements for the spring. Dont do this until AFTER you received your fall loan funds.

Answer 3

I'm sort of new at this with my son's student loan, but I'll tell you what I know... His student loan is only good for 180 days. After that if the money is not used, he would have to re-apply. I would wait until you're accepted at the school you want to attend, that way the loan company will know who to send the money to. Once my son's loan was accepted through Sallie Mae, we were told that they would handle everything with his school and we pretty much didn't have to do anything else. They will verify with the school the start date and the tuition without us having to give them this information. Call the school's financial aid counselor to get his/her help on when you should apply. A lot of these people who are answering yoru question are probably referring you to a loan company, so I would stay away from them. Call the counselor for your best advise. Good luck!

Answer 4

what's a "profession college"? That sound like an commercial! there isn't any such element! Are you concerning a vocational inner maximum college or community college? >"I wanna be a state cop, so i desire 60 college credit." Are you already in regulation enforcement? If no longer, what makes you think of it is going to likely be a achieved deal, regardless of 60 college credit? you're able to desire to finally end up purely being a protection shield on the mall! And on good of that, a private loan you will possibly desire to pay off! You greater effective have a Plan 'B', like transforming into a member of the militia!

Answer 5

Wait til you receive you aid letter from your new school. If you received aid before, you have a good chance of getting aid at your new school even if its more expensive. When you receive your new letter you'll be able to determine how much loans you'll need, and can apply then.

Answer 6

There are many student loan lenders.Before you go for one check the rate of interest and also see that the lender is a legitimate one.
Don't pay any money to get the laon. You can also try for some scholarship online.
To know more you can visit
http://www.easystudentloan.blogspot.com
and
http://www.scholarshipgrants.blogspot.com