Are You Eligible for a FAFSA Student Loan?

The Free Application For Student Aid Loan (FAFSA) is a federally funded program which provides grant, work-study and loans to postsecondary students. Anyone can apply for a FAFSA loan, but to obtain financial aid, they must meet the following eligibility requirements:

• The applicant must be a US citizen.
• The applicant must have a valid social security number.
• If the applicant is a male between the ages 18 to 25, he must be registered with the Selective Service.
• The applicant must have obtained a high school diploma or a General Education Development (GED) certificate.
• The applicant must be enrolled or accepted into a school that participates with the federal student aid program and be working towards a degree.
• The applicant may not have any drug convictions during their participation in the federal student aid program.
• An applicant must not owe a refund on a federal student grant or have a default status on a federal student loan.
• An applicant must demonstrate a financial need (the unsubsidized Stafford Loan does not have this requirement).

When an applicant is convicted of a drug offense after submitting a FAFSA, they will no longer be eligible for aid and must pay back the aid received after the conviction. These applicants can become eligible for aid upon the completion of a drug rehabilitation program.


Need a Student Loan? Click here!
blog comments powered by Disqus