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FAFSA Student Loans

Without FAFSA You Can Kiss Federal Student Loans GoodBye

FAFSA is like the gateway to heaven, you can't get federal student loans without a Student Aid Report (SAR).  You can only get a SAR from a from a successful application submission to FAFSA.

What Exactly Does FAFSA Stand For?

FAFSA, stands for Free Application for Federal Student Aid.  Believe it or not, the federal government has a HUGE hand in this lucrative industry and they plan on keeping it that way. Don't even think about trying to blow off your loan because they'll come after your first born before they let you default on a student loan.

The feds are your best choice for a college loan because they have some of the best interest rates around.  Plus some of their loans like the stafford subsidized student loans your government will actually make the interest payments for you while you're in college. The unsubsidized student loans allows you to make the interest payments to keep the overall cost of the student loan down.

FAFSA Application Process

We highly recommend downloading and printing out a copy of the application.  You will fill the application out online, but it's best to have a hard copy to work from until you have completed the application.  This gives you time to research and find the answers to their questions.  And trust me, you will have a lot of questions to answer.

Step one is simple: create an online account with a PIN.  This pin number will allow you to proceed with filling out the application.  The PIN number you create and the account will stay with you for the remainder of your student life.  Like everything these days, you can track everything online and they like it that way and so will you.


  • Your SAR report will be used by many different institutions including private student loans companies. What used to be strictly used for government purposes now banks and savings and loans like to see the SAR for a baseline or foundation to assisting you in finding the best student loans available for you.
  • Federal money is strictly awarded on a first come first served basis. Be quick with filling out your FAFSA application each year.
  • If you are serious about student aid, then January is your month to submit your FAFSA application.
  • Don't cry foul if you are looking at the FAFSA application in February. We submitted our application in late February and still received our student loans for 2 family members.
  • Don't be shy, seek assistance from anyone who will listen. High School counselors and college admissions advisors are good resources.

What About SAR?

SAR contains a lot of information but to cut to the chase, you want to find these two reports:

  • EFC
  • Eligible Loans

EFC stands for Expected Family Contributions.  In your report they will tell you how much they expect you and your family to contribute to your college education. The remainder of the monies needed for college will come from your student loans.

Eligible loans are basically that. You'll receive a list of federal unsubsidized and subsidized student loans that you qualify for.  These loans will usually be a Stafford, Perkins Loans or Pell Grants.

Keep a couple of things in mind:

1.  On your FAFSA Student Loans application you will choose the colleges you wish to attend.  These colleges will also receive your SAR. If you do opt to receive federal student aid, the college you attend will first receive the money and take your tuition costs out. When they are finished using your money they will then send the left over money to you.  You can use that money for school related expenses.

2.  You do have the option to accept your entire loan amount, partial loan amount or evern non of it.  

3.  You'll also have the flexibility to pick which loan institution you apply through.  We used a local bank to apply for our federal student loans.

The first time you fill out the FAFSA Student Loans application it will take you a while.  I remember telling my wife, "this is the last time, I'll ever do this!"  But the second time around you are wiser and smarter and it will be a lot easier. Just don't forget to fill it out early in the calendar year so there will be money for you.

Best wishes to you and your college student.







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