Need Help Paying for College?

At BWCU, you'll get:

• Low rates on federal student loans
• Fast turnaround on your loan application
• Personal assistance that you've come to expect from BWCU

Forms

• Student Loan Master Promissory Note
• PLUS Student Loan Master Promissory Note

Apply for Federal Student Aid in Just Five Steps
Applying for student aid and loans can seem like an overwhelming task, especially when you are just beginning to research all the options. Here's a step-by-step process that should clarify and simplify things for you:

1. Fill out a FAFSA and submit it early

• The first step in the process is to fill out the Free Application for Federal Student Aid (FAFSA). You can print out a FAFSA or submit it electronically through the Department of Education's Web site at www.fafsa.ed.gov. It’s best to file the FAFSA on-line to save you time and speed the process along.
  
• Fill the FAFSA out completely since an incomplete application may be returned creating an unnecessary delay for your application. Make sure to answer "yes" to the item on the FAFSA about your interest in a student loan, so your eligibility for one will be determined.
  
• You stand a better chance of getting the best aid package possible for your situation if you complete the application process early. We recommend submitting your application no later than March 31 (do not submit it earlier than January 1 or it may be returned). You should also check with the school you wish to attend, as they often set their own application deadlines.

2. The federal government determines your eligibility

• The information you supply on the FAFSA allows the federal government to determine your eligibility for various financial aid programs including:

  • Federal grants which do not need to be repaid;
  • Federal work-study, which allows a student to work part-time on campus; and
  • Federal loan programs, Stafford subsidized and Stafford unsubsidized, which are offered through your credit union

3. Receive your SAR report

• If you submit a paper FAFSA form, within four to six weeks a Student Aid Report (SAR), summarizing the financial aid programs for which you qualify, will be sent to you and the school(s) to which you applied. If you applied via the Web, you will receive a SAR by mail usually within a week after a complete application is received. Based on the SAR, your school will determine the maximum amount of aid for which you qualify under each program and send you an "award" letter.

4. Receive your award letter

• The award letter breaks down the total amount of grants, scholarships and federal aid for which you are eligible in an academic year.

5. See your credit union if you are eligible for a student loan.

• If the award letter shows you are eligible for a Stafford student loan and/or your parents would like to take out a PLUS loan for you, click the appropriate link below. We make applying for your loan as simple and easy as possible.

  • If you are a student complete the Student Loan Master Promissory Note.
  • If you are a parent complete PLUS Student Loan Master Promissory Note.
• Be sure to use our lender code 833491 anywhere it is requested. This will indicate that we are the lender for your loan.

If you're a dependent student, your parents/stepparents may borrow under the Federal PLUS loan program, even if you don't qualify for other financial aid.

Get your federal student loan where you're more than a customer. Get it at BWCU where you're one of the owners. That's because credit unions are not-for-profit cooperatives, owned and controlled by their members. We return earnings back to our members in the form of better service, higher dividends and lower fees and rates.

Resources
For information about your loan go to www.mygreatlakes.com or call 1-800-247-0462.