Apply for a Loan

To borrow William D. Ford Federal Direct student loans, you will need to complete the FAFSA (Free Application for Federal Student Aid) in order to determine your Student Aid Index (SAI). Depending on the type of loan, your college may also require that you complete a separate institutional application. Contact a financial aid administrator at your college to determine if an institutional application is required.

Once your loan eligibility has been determined, you will be directed to read over the loan application and/or promissory note carefully. Upon completion, you will be required to sign the note indicating that you understand and agree to the terms of the loan. Your college or lender will provide these documents to you.

Remember, student loans should be your last resort to fund education. Should you determine to need the loans, only borrow what you need.

If you fail to make the required payments on your federal student loan and the account becomes delinquent by a specific number of days (depending on the type of loan you borrowed), it is in default.  Once the loan is in default, the entire balance (principal, interest, and collection fees) is immediately due and payable.