![]() Head to to submit a digital version of the form or print out the PDF version to mail in. Schools then use this data to determine the federal aid you qualify for. This form collects personal and financial information about you (and your family if you’re a dependent student). The Free Application for Federal Student Aid (FAFSA) is a crucial first step in applying for federal student loans. ![]() While federal loans have many benefits, the application process can be quite long. Lastly, federal loans offer a number of flexible repayment plans, as well as deferment, forbearance, and forgiveness options. In addition, many borrowers may find lower interest rates on federal loans compared to what they qualify for with private lenders. Most types of federal loans don’t require a credit check, and interest rates are fixed (meaning they don’t change). The Department of Education offers federal student loans, and they include a number of benefits that private student loans don’t. We’ll break down how to apply for student loans, plus how each type of debt works and the benefits on offer. You might turn to federal or private student loans to cover your education, but the application process differs significantly depending on which type you need. Many families can’t pay for college out of pocket, and student loans are a common solution - 54% of undergraduates from the Class of 2021 left school with some type of debt, according to 2022 College Board data. NMLS #1681276, is referred to here as "Credible." Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. We do that by creating expert-curated and deeply-researched articles that adhere to our editorial guidelines. WHY TRUST CREDIBLE: Our goal is to give you the tools and confidence you need to improve your finances. ![]() New York Post receives a fee if you click a link below and close a loan through Credible. Credible is solely responsible for this content and the services it provides.
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