Jun 23, 2015
College Costs
Creative Ways to Save Money on Textbooks
College textbooks can be shockingly expensive. Find helpful ways to save money on this necessary expense with help from Discover Student Loans.
Federal and private student loans have different application processes.
Federal Student Loans
- Start the application process by filling out the Free Application for Federal Student Aid (FAFSA®) at studentloans.gov.
- Review your Student Aid Report (SAR). It typically arrives about a week after you submit your FAFSA online.
- Compare your financial aid packages and sign your Master Promissory Note (MPN).
- Receive your loan proceeds from your school once they have been applied to your student account.
Private Student Loans
- Submit your application and undergo a credit check.
- Add a cosigner to increase your chance for loan approval and a lower interest rate.
- Sign your Promissory Note and complete the Self-Certification Form.
- Accept the loan terms.
- Receive your loan proceeds from your school once they have been applied to your student account.
FAFSA is a registered service mark of the U.S. Department of Education.
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Navigating the financial aid process can seem daunting whether it's your first time in college or you are a returning student. Use these step-by-step instructions to help guide you through the process.
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The Student Aid Report
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My Biggest Student Loan Regrets
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How Rising Interest Rates Affect Your Student Loans
Wondering how rising interest rates may affect your student loan rate? Find out how the Federal Reserve movements could affect the interest rate of your student loan.