What do you need to complete to qualify for a federal student loan?

Home Forums Student Loans What do you need to complete to qualify for a federal student loan?

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    Jordan Moore
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    Team StellarFi
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    To qualify for federal student loans, you need to complete the Free Application for Federal Student Aid (FAFSA®). Based on the information you provide on the application, your school provides you with a financial aid package that can include grants, scholarships, and federal student loans that you qualify for. You may not qualify for all available types of financial aid.

    The FAFSA for the 2024-25 academic year will become available in December 2023 and will be open until June 30, 2024.

    To qualify for financial aid you need to:

    • Have a high school diploma, a GED, or complete a state-approved home-school high school education 
    • Be a United States citizen, have a green card, a T visa, a T-1 visa, I-94, or battered immigrant-qualified alien status
    • Have a valid Social Security number
    • Be enrolled in an eligible degree or certificate program
    • Maintain satisfactory academic progress 
    • Have financial need

    Your dependency status on the FAFSA determines whose information you need to report when you fill out the FAFSA. If you’re a dependent student, you’ll report your and your parent’s information. If you’re an independent student, you’ll report your own information (and, if you’re married, your spouse’s). Independent students are typically eligible for more financial aid than dependent students.

    You are automatically considered independent by age 24, but based on your situation you may fill out the form as an independent before this age.

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StellarFinance, Inc. and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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