Can someone clarify the loan process for me?

I have been accepted to May term and I began applying to student loans.
This is my first time applying to student loans and I am little confused at the process.

First of all, I have submitted my FAFSA application and I received my result (states that my contribution will be $0)

Now, where do go from here? I called the financial office and they told me that I need to wait until I receive the school letter before applying to loans. However, other students have told me that I need to get my loans pre-approved.

Excuse my ignorance but I am sincerely confused.

Can someone outline the process for me? Thanks in advance

Because you're apply for May, you can wait until you get your acceptace letter etc before applying. If you were applying for January then you would need to do it now.

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AUA & Ross Forum Moderator

But I have already gotten my acceptance letter.

Have you gotten your welcome package yet? I know the instructions for financial aid are in there.

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AUA & Ross Forum Moderator

First of all, I apologize for being so ignorant.

Yes, I have received the welcome packet and it contains Student Loan info. I am just not sure what I am supposed to do after I receive a response from FAFSA.

How do I actually apply for different loans? I read in various threads about subsidized, unsub., grad-plus etc..

Thanks

Stafford loan checklist Try that

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AUA & Ross Forum Moderator

First thing - Are you going to return to US at end of your first semester or in summer? If not, apply through Sallie-Mae on line. If you you may come, than apply through sallie-Mae online. If you definitely comining back, than apply at either sallie-Mae or Wachovia. Reason - For Wachovia you have to print the application and than sign it and mail it which will be difficult to do from Dominica for next year. Mail from Dominica normally takes 3-8 weeks and many time they never make it to US. Also if Wachovia has any questions, than it will be difficult to provide/send needed information from Dominica making it difficult to receive your loans on time.

Now open your welcome package. They have provided internet links for both Sallie-Mae and Wachovia. Just open those links and start your application process. You will need your last years income tax if you are filing for Jan. 2008 and Summer 2008 Semester.


Sallie-Mae Process -
You have to fillout total 3 MPN - one for Jan 2008 Stafford Loans, one for Summer 2008 Stafford Loans and one for GradPlus Loan. Once you finish your application on Sallie-Mae website you submit it and check every couple of day the status of your application. If there are any questions or hold you will see them. In that case call Sallie-Mae and they will direct you.

Please note that after you submit your first Stafford MPN, you have to go back and manually change date to fill out second Stafford MPN.

If your financial award is for total 3 semester, than you have to fill out 3 MPN for Stafford Loans and one for GradPlus Loan.

Each MPN for Stafford Loans covers both Subsidized and Unsubsidized Stafford Loans.

Wachovia Process -
Same as Sallie-Mae but you print your application and than sign it and mail to Wachovia.

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Thanks guys. I am starting to really understand the process.

Last thing that I need to comprehend... It states on the welcome packet that I should begin applying for those three loans after I receive an AWARD LETTER.

What is an award letter and do I have to wait until I receive this award letter from Ross before beginning the process outlined by DOCDAD?

Again, I apologize for my ignorance.

TTT for some input