Federal student loans are an important part of a potential college student's future. These loans can help students pay for an education they otherwise could not afford.

The first step in applying for such a loan, is to file a FAFSA (Free Application for Federal Student Aid) form. These forms are available online by simply heading to the FAFSA website at http://www.fafsaonline.com. The FAFSA website is extremely helpful and user-friendly, so please check it out.

It's important to apply for the FAFSA as early as you can, because it will take a couple of weeks for a reply. Until you get this reply, you can't go any further in your attempt to get a student loan. This is an important first step.

Your reply is known as a SAR (Student Aid Report). It will contain information on what financial aid you are eligible for, including whether or not you have been approved for a Stafford Loan.

A Stafford Loan is a great affordable loan with good interest rates. However, it might not cover all of your educational expenses. Fortunately there are other loan ideas for you to investigate, including PLUS programs your parents can request. PLUS loans are available to students even if they aren't eligible for federal aid.

if you've qualified for the federal student loan, you'll need to sign the promissory note provided to you, and keep a copy for yourself. The loan money you receive will initially be paid to the college to cover your tuition costs. Any leftover money will either be sent to you directly for your own use, or credited back to the loan as part of the payoff, depending on which you decide.

Federal student loans can be a big help in paying for a college education. The FAFSA website can give you all the information you need about applying and hopefully getting the loan.