<p>Should I start right now? I've been selected for verification and I plan to send all my documents tomorrow. Should I wait until I receive financial aid news from my college?</p>
<p>Yeah-- if you're talking about 08/09 student loans that are part of the package offered by the college, after verification (and after you've done a fafsa correction indicating that you've filed taxes if it's a fafsa school) you'll get a firm financial aid offer, and have an opportunity to accept or decline each portion of the aid package. If you accept the student loans, the school's financial aid office will provide you with details of how to select a lender and secure the loans.</p>
<p>So I should also start applying for private loans from companies like Sallie Mae during the summer?</p>
<p>And is receiving $31,000 in financial aid good for a college that costs $48,000?</p>
<p>That sounds pretty good to me. Why cant you apply for the loan, you're not actually taking the money until Aug/Sept? Isn't it like being pre-approved for a loan? Just because you qualify for an amount, doesn't mean you have to take all of it.</p>
<p>Wait, what?</p>
<p>So I start applying now?</p>
<p>"if you're talking about 08/09 student loans that are part of the package offered by the college, after verification (and after you've done a fafsa correction indicating that you've filed taxes if it's a fafsa school) you'll get a firm financial aid offer, and have an opportunity to accept or decline each portion of the aid package. If you accept the student loans, the school's financial aid office will provide you with details of how to select a lender and secure the loans."</p>
<p>Okay, what about private loans from companies like Sallie Mae?</p>
<p>Bumperooni</p>