Most colleges will require completion of their admission application before they will formally process your application for financial aid. Read the information provided by the colleges carefully. Remember that timeliness and accuracy are the watchwords when you apply for financial aid. Colleges may award aid on a first come, first served basis. If you send incomplete forms or submit your forms late, you may not receive the maximum aid for which you may be eligible.
Some colleges require additional applications for financial aid.
Although your financial aid award letter may indicate that you are eligible for an education loan, you will not automatically receive a loan. Your award package will explain the procedure you need to follow to apply for a loan. Students, both graduate and undergraduate, may receive Stafford loans. This is not a need-based loan, so a parent can qualify regardless of income. Private education loans are also available from a variety of sources.