Specialized Services
Student Center
Applying for a student loan is not as complicated as you might
think.
At First National Bank, we realize financing your education can be
confusing and somewhat overwhelming. That's why we're ready to help with
information, assistance and access to college financing to meet your
individual needs. Additional resources that will be helpful to your student
loan research can be found at www.educationquest.com and www.nelnet.net.
The steps below will help guide you through the student loan process.
First National Bank has partnered with Nelnet College Planning in order
to provide better service and support for all of your college planning
and student loan needs. It may be helpful to register with
Nelnet before you get started.
1. Complete the FAFSA form.
One of the most critical steps in applying for federal and state financial
aid programs is filing the Free Application for Federal Student Aid (FAFSA).
This federal form uses a formula to determine a family's expected family
contribution (EFC), or the amount of money a family is expected to pay
for college costs. Schools use this information to determine what sources
of aid the family qualifies for, including grants, scholarships, work-study,
and loan programs.
Any first-time or returning student can speed the process by using the
FAFSA Express to electronically file and get the results in two to four
weeks. Go to www.FAFSA.ed.gov to
learn more about the FAFSA and to complete the online form.
2. Apply for financial aid
at the college.
Based on your financial need, there may be loan options available through
your college of choice such as Grants and Scholarships, Federal Work
Study Programs, and Federal Perkins Loans. The colleges you're applying
to may require you to complete additional forms and provide tax returns
before determining financial aid eligibility. Respond to their requests
immediately, or you may hold up your application.
3. Receive your Student Aid
Report (SAR).
Within four to six weeks of filing your FAFSA, the college's financial
aid office will send you a Student Aid Report that tells you the aid
you're eligible to receive based on:
- Cost of Education - including room and board,
tuition and fees, books and supplies, etc.
- Expected Family Contribution (EFC) - based on
income and other factors, this amount is the same regardless of the
college you attend.
- Financial Need - determined by subtracting the
expected family contribution from the cost of education. This may
change depending on the cost of the college.
4. Choose your college.
Once you have received a SAR from each of the colleges you have applied
to, carefully examine the financial aid packages they're offering you
and compare them to determine the college you wish to attend. Sign the
award letter in the financial aid package and return it to the college
- by the specified deadline.
5. Apply
for loans.
Chances are, the financial aid package will not cover all costs of going
to college. As soon as you know the amount you'll need to make up the
difference, apply for loans in the following order:
- Federal Perkins Loan
- Federal Stafford Loan
- Unsubsidized Stafford Loan
- Federal PLUS Loan
Be sure to borrow only what you need - set a limit to the amount of
debt you can afford before you take out any loans.
Most colleges participate in the Federal Family Education Loan (FFEL)
Program, which allows students and parents to choose the bank that they
want to provide the student loans. By borrowing through a single bank,
you'll have an easier time keeping track of your loans, your responsibilities
and any changes that occur in your name, address or financial aid needs
and eligibility.
To choose First National Bank Omaha, just put the Lender Code
808238 in the "Lender Code" field.
For more information about our student loans, please refer to our contact
us page for the appropriate contact information.
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