<p>My oldest son is going to College -this is ALL new to me. Got an estimate of what he financial aid is going to be.... some Grants plus he is also eligible to get a subsidized Stafford Loan, an Unsubsidized Stafford Loan and a Perkins Loan. Now I am confused as to how I go about and get these loans? Do I understand that the Perkins is financed through the School--if so, what happens, do I wait for them to contact me about that? Do I now go out and look for Stafford Loans, or does the school also provide me with the Lenders I can go too? Is it important to be 1st in line when getting these loans??? I have not gotten the official Breakdown of all of this yet, just an estimate of what to expect in loans he will need. Thanks to all who understant this and can shed some light.</p>
<p>Perkins is campus based aid so will come through the school.</p>
<p>Stafford you will need to check with your school. Both my kids have Stafford loans. My daughter’s school is a direct lender so her loan is direct through the school. She had to complete the MPN (master promissory note) and online counseling thing but no application as such. My son’s school is not a direct lender so he had to go through a bank. The school gave him a list of lenders. He did go through one of the listed lenders as one did not have any up front fees (they can charge up to 3%(I think it is 3) in fees), but I believe you do not have to use their recommended list. Your school should have the information posted somewhere.</p>
<p>He will have to complete MPN and entrance counseling wherever he gets the loans. This information should be somewhere on the school website.</p>
<p>So when do we get this list, should I not worry about this UNTIL the official School aid- is sent to me and broken down? RIght now I just have an estimated letter of what he is going to get or can get in aid and loans. Like, when it comes to these loans, it is not first come, first get -kinda thing like a FAFSA application, right? If one bank is a lender, they will be able to lend to my son even if I come later than the other students ? I probably should call the school and get info on this soon, or should I just wait ? Thanks for your help !</p>