Student Loans Online
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Applying for student loans can become a tough process, especially when it has to be repeated every year. This is where the Internet comes to the rescue. Applying for students loans online is a simple process of filling the form and submitting it without standing in a queue.[br]
Applying for students loans over the net also allows you to complete the process any time and from anywhere.
Eligibility for Student Loans Online
You can apply for federal student loans online any time after January 1. To determine your eligibility for a loan online during an upcoming school year, the following information is sought:
- Your family’s income (all income earned until the end of the year is counted toward the eligibility of your Federal financial aid.)
- Tax information related to the most recent tax year
- Your US citizenship or eligibility as a non citizen
- Your valid social security number
- If you are already enrolled, is your academic progress towards a degree or certificate program satisfactory?
- Are you a non-defaulter on a federal student loan or do you owe money on a federal student grant?
- Do you have a favorable credit rating as defined by federal regulations?
- Are you (or your dependent student) enrolled or accepted for enrollment in an eligible degree or certificate program?
Documents Needed to Apply for Student Loans Online
The following documents are required for student loans online:[br]
- Social Security Number
- Driver’s license, if any
- Income tax returns of you and your spouse, if any
- IRS 1040, 1040A, 1040 EZ
- Foreign Tax Return, or
- Tax Return for Puerto Rico, Guam, American Samoa, the US Virgin Islands, the Marshall Islands, the Federal States of Micronesia or Palau
- Your Parents´ federal income tax return for the previous year (if you are a dependent)
- Bank statements
- Your current business and investment mortgage information, business and farm records, stock, bond and other investment records
- Your W-2 Forms and other records of money earned
- Your untaxed income records for the last financial year, such as
- Veterans benefits records
- Child support received
- Worker’s compensation