|
How to Get a Student Loan Helping a student secure the financial aid that they need to attend MTC is pretty rewarding for me. In the process of working with people, I routinely handle the question “How do I get a student loan?” It’s not unusual for a first-time borrower to have uncertainty about the process, but the best thing a student can do about that is to become familiar with the steps so they can be completed correctly. So here they are: First, complete the loan request form. With this form, you primarily identify which lender you would like to work with, and how much you would like to borrow. The amount that you can borrow is related to the number of credit hours you have accumulated. On this form, we also offer a group of lenders to choose from, as well as a place to write in a lender not on our list. Next, complete online entrance counseling. Entrance counseling is basically an online coaching session that explains important things about your loan such as the interest rate and when you will begin repayment just to name a few. This is a necessary step in the loan process, so take care of it right away. If it doesn’t get completed, your loan can’t be processed. The last step in the process is to complete a promissory note. The promissory note is simply an agreement between you and your lender to begin paying them back after you graduate or after you drop below six hours of enrollment. The agreement can be completed on paper and mailed to the lender, or completed online for faster processing. To get started, just come over to the financial aid office and we’ll take care of you. Remember, all three of these steps are necessary to get your loan request processed. It generally takes 14-21 days for the loan to finalize, so start the process at least four weeks before the fee payment deadline and you should be in good shape. |
|
Dean K.