<p>How do you go about and take out loans for school, specifically the perkins and stafford loans. Im very ignorant when it comes to this. Thank you</p>
<p>Your school prepares your financial aid package. This includes any federal loans (Stafford and/or Perkins).</p>
<p>Are you talking about the loans that were offered in financial aid? If so, I"m in the same boat as you. Once the bill comes to pay for the first year, are the grants and loans already calculated?</p>
<p>yeah the loans in the package. Do i just sign a contract next year or what?</p>
<p>The loan money will go directly to the school and be deducted from your bill.</p>
<p>The school’s financial aid office can help you, but your state may have a good program as well.
You will have to sign a Master Promissory Note - as long as you use the same lender you probably only need to sign it one time.
you will have to go to Entrance counseling - usually online that your school will guide you through and then exit counseling when you graduate.</p>
<p>Make sure you understand all the terms involved. Please do not hesitate to ask questions - you will not be treated like an idiot.</p>
<p>@ justamomof4:</p>
<p>Is that all done when the bill for payment comes around July or so?</p>
<p>even if you haven’t signed your promissory note yet, the loan will be deducted from your bill.
the loan money is not released to the school until several weeks into the semester.</p>