Fondo Futuro :: The Loan Process

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The Loan Process

1.	Students should first identify the full cost of attending an educational institution. The full cost of attendance is not only made up of tuition but should include room & board, books, travel, bills, health insurance and spending money. All of these costs can quickly add up and students should understand the true cost of attendance before applying for federal and private student loans.
2.	Students should understand how much they have saved for their education and allocate funds appropriately for each year of their education.
3.	Fondo Futuro recommends students first apply for a Federal Student Loan because these loans are federally sponsored and offer affordable rates to borrowers. However, these loans typically cover only a small portion of the true cost of an education and many students require a Private Student Loan.
4.	Finally, students should consider applying for a Private Student Loan to cover the remaining cost of an education. Private Student Loans offer higher loan amounts than Federal Stafford Loans, flexible repayment terms, an easy application process and the ability to disburse funds to the students in as quickly as two weeks!

This webpage was designed to assist Hispanic/Latino students, who are seeking financial aid, pay for their college education with grants, scholarships, and loans (both Federal Stafford and private). We provide a full guide of financial tools which can be used to determine your options in paying for college.