A student loan functions like most other types of loans: it is borrowed money that must be repaid with interest. If you are offered a student loan as a part of your financial aid award, it is important to consider the potential impacts borrowing money may have on your finances before you accept the loan. There are a few different types of student loans to help you cover the cost of college.
To qualify for loans, you must complete the Free Application of Federal Student Aid (FAFSA). In addition to the basic financial aid eligibility requirements and the eligibility requirements for specific loan programs, you must also meet the following criteria to be eligible for student loans.
Visit the Disbursement webpage for additional information on when you will receive your funds.
Questions? Visit askMadisonCollege to view frequently asked Financial Aid questions, submit a Financial Aid Category question, access the Financial Aid Tutorials for step-by-step instructions on related processes, or contact Madison College Financial Aid at (608) 246-6170.