| College is an important step in many
people’s lives. It requires motivation, self-discipline
and commitment, not to mention financial resources.
The first three are up to you.  Once
you decide college is the right path for you, we can
help you attain the financial resources you need to
achieve your educational goals.
The Financial Aid Process
Apply
Now. FREE Application for Federal Student Aid (FAFSA)
College
and Career Planning
Your Student Loan Online You will need to log-in
to view your loan and payment summaries.
The Financial Aid Process
Applying for college and student loans can be very overwhelming
and confusing to a first-time borrower. Most students
will agree. Don’t stress. Relax…we’re
here for you. Here is a summary of the steps you’ll
take when applying for Federal Financial Aid.
1. Complete a FAFSA
(Free Application for Federal Student Aid). Use this
link to apply online or check with your school guidance
counselor or financial aid office of the school you’re
applying for. These should be filled out completely
and submitted as soon as possible after January 1st.
2. In 1-2 months you and each school
you applied for should receive a Student Aid Report
(SAR) summarizing the information you gave on your
application. Verify the information is accurate and
promptly return it as requested if there are any mistakes
or missing information. The schools you applied for
will use this to determine the maximum amount of aid
you qualify for and they will notify you in an award
letter.
3. Your award letter will list
all types of financial aid and the amounts, that you
are eligible for that academic year. (These may include
Federal Stafford Subsidized and Unsubsidized, PLUS
loans -parents take a loan out-, and Work Study to
name a few.) The school gives you the option to decline
certain types of aid or lower the amounts offered.
Follow their instructions for doing this and return
promptly.
4. Once you and your school agree
on the types and amounts of aid you will receive they
will send you a Promissory Note or instruct you to
fill one out with your lender - Miller Electric Credit
Union. Stop by and we can help you with this step.
If you think you can take it from here, be sure to
enter our lender code #823524.
5. Congratulations! You’ve
made it through the student loan process. We hope
you have an enjoyable year at your next education
destination!
Additional Resources
www.mygreatlakes.com
www.fafsa.ed.gov
www.mapping-your-future.com
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