VBSFCU High Schools Scholarships

1. Federal Subsidized Stafford Loan

2. Federal Unsubsidized Stafford Loans

3. Federal PLUS Loan

How to apply for a student loan

 Downloads:

How to Apply for Federal Financial Aid and Student Loans. Two page form.   Click here

Please also review the following LINKS for other important Student Loan Information.

Subsidized Stafford Loans are low interest education loans, based on financial need. The federal government pays the interest on these loans, while the student is in school, in a grace period and during any authorized periods of deferment. 

Unsubsidized Stafford Loans are low interest education loans, available to those who do not qualify for a subsidized Stafford loans or who need additional aid. The government does not pay interest on the borrower's behalf: the student is responsible for paying the interest while he is on school, in a grace period and during periods of authorized deferment. 

PLUS loans are educational loans not based on financial  need. They are available to parents (natural and adoptive) or legal guardians of dependant undergraduate students. 

How to apply for a student loan:
In Virginia, all undergraduate students are required to complete a Free Application for Federal Student Aid to determine their eligibility for any/all federal grants and/or loan programs.

1. Contact the Financial Aid Office at the school you plan to attend to see which forms the school requires.
2. Complete the required forms and return them to the financial aid office (for certification).

3. To ensure that VBSFCU received the loan documents, complete the following information on the loan application:
   -   For the section marked "Lender" fill in VBSFCU
   -   For the Section marked 'Lender Coder fill in 833935

4. The School certifies the amount(s) the student is eligible to receive. The SEAA issues the guarantee and forwards the loan documents to the lender. The lender makes the loan and forwards payments directly to the school.
   

 LINKS

Student Loan Sites:

Department of Education www.ed.gov/index.jsp
FAFSA - Locate the Free Application for Federal Student Aid www.fafsa.ed.gov
FastWeb - Free Scholarship Search! www.fastweb.com
Learn more about the financial aid processes at www.mapping-your-future.org

 Downloads:

How to Apply for Federal Financial Aid and Student Loans. Two page form. Click here

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