Applying For Alaska Student Loans
Applying for Alaska student loans is much the same as in any of the lower forty eight states. You must first file a Federal Application for Student Financial Aid, otherwise known as the FASFA, and talk with an advisor in the financial aid department of the college or university you have chosen.
A financial aid advisor can also assist you with finding any scholarships or grants for which you may be eligible. The difference between Alaska student loans and scholarships or grants, is that loans have to be repaid - whereas grants and scholarships do not. Keep in mind, however, that to keep a grant or scholarship, you will usually be required to maintain a certain number of credit hours and/or a certain grade point average, or GPA.
What You Need
When applying for Alaska student loans, it is imperative that you have all of the necessary documentation on hand that you may need. This includes, but is not limited to: bank statements, tax records for both you and your parents if you are under a certain age, your school information, and your social security number.
You will also need to show proof of what other financial support you may be receiving when you apply for Alaska student loans. For example whether or not you have a job, or are under twenty one and living under your parent's roof, may affect how much of a loan you will be able to get. Be sure to have all of your income information (and your parent's, if still at home) on hand before you fill out your application.
It is also important to check your credit record, to make sure that there are no negative reports from companies to whom you may have made late payments, or skipped paying all together. These bad reports can affect whether or not you are approved for certain Alaska student loans. Unsubsidized loans, for example, require that a student have a fairly clean credit record before approval.
If you are under the age of twenty one, or if your primary residence is still your parents home, you may be able to qualify for Alaska student loans using your parents good credit standing. Parents are also able to apply for Alaska student loans, called PLUS loans, that can help to pay for their children's education.
Remember, in addition to loans, most students will find that they are eligible for Pell grants and other scholarships. You may qualify for large enough scholarships, that you may not even need to apply for Alaska student loans. Good luck!
