1. Fill out the FAFSA and submit it early.
   The first step in the process is to fill out the Free Application for Federal Student Aid (FAFSA). It is available from your high school guidance counselor, local library, or you may request one from the school to which you are applying. You can print out a FAFSA or submit it electronically through the Department of Education’s Web site at: www.fafsa.ed.gov.
    
   Fill the FAFSA out completely since an incomplete application may be returned creating an unnecessary delay for your application. Make sure to answer “yes” to the item on the FAFSA about your interest in a student loan, so your eligibility for one will be determined.
    
   You stand a better chance of getting the best aid package possible for your situation if the application process is completed early. We recommend submitting your application as soon as you read this information. You should also check the school you want to attend as they often set their own application deadlines.
    
2. The federal government determines your eligibility.
   The information you supply on the FAFSA allows the federal government to determine your eligibility for various financial aid programs including:

• Federal grants which do not need to be repaid.
• Federal work-study, which allows a student to work part-time on campus.
• Federal loan program, which may be low-interest and interest deferred (these are offered through the credit union).

3. Receive your SAR report.
   Within four to six weeks a Student Aid Report (SAR) summarizing the financial aid programs for which you qualify will be sent to you and the school(s) to which you applied.
    
   If you applied via the Web, you will receive your SAR report by mail about one to two weeks after a complete application is received. Based on the SAR, your school will determine the maximum amount of aid for which you qualify under each program and send you an “award” letter.
    
4. Receive your award letter.
   The award letter breaks down the total amount of federal aid for which you are eligible in an academic year into specific types of aid. Each type of aid is then broken down further by the amount per semester. If your award letter shows you are eligible for a student loan, you can fill out an application to get your loan anytime after receiving the letter. Applications are available at the credit union.
    
5. See your credit union if you are eligible for a student loan.
   If the award letter shows you are eligible for a student loan or your parents would like to take out a PLUS loan for you, please contact Baker’s Federal Credit Union. We make applying for your loan simple and easy as possible. Be sure to use our lender code 828684 anywhere it is requested. This will indicate that we are the lender for your loan.
   
   If you need more information on the financial aid application process, contact your high school guidance counselor or the financial aid office at the school you will be attending. The Department of Education Web site is another source offering a wealth of information at www.ed.gov, as is Great Lake Higher Education at www.glhec.org.

For additional student loan questions, please contact Jane Kerrigan at 339-6755.