Money for school is easier than ever, if you know the code.
Just ask us how easy a student loan can be with the First State Lender Code—830610. Whether you are enrolling in college or cosmetology school, get one-on-one help with lower fees and more service from the bank you know and trust. Ask about our special rates for nursing, teachers and paramedics, too. For more specific questions or to get individual help, contact Eric King, Student Loan Officer, at 501-328-4760 or 501-472-4296

Follow these simple steps:
Step One:
Gather the information from the tips and checklist below before you begin. Apply online FREE at www.fafsa.ed.gov. Complete the FREE Application for Federal Student Aid (FAFSA). Be sure and indicate which school you wish to receive your information.

Step Two:
The college you choose will send you a financial aid award package indicating any scholarships, grants and student loans you are eligible to receive for the academic year.

Step Three:
Please review the financial aid award package, accept student loans and select First State Bank as your lender, Lender Code: 830610. Please follow the instructions from the financial aid office to complete the process.

Simple explanations for the different types of Student Loans available at First State Bank

Federal Subsidized Stafford Loan:
Payments are deferred while student is enrolled at least half-time. Federal government pays the interest while enrolled.

Federal Unsubsidized Stafford Loan:
Payments are deferred while student is enrolled at least half-time. However, borrower is required to make interest payments while in school.

Federal Parent (PLUS) Loan:
Loans made to parents of dependent undergraduate students. Federally mandated credit checks are required. Payments begin 60 days after approval.

Federal GradPLUS Loan:
Loans made to graduate/professional students enrolled at least half-time. Federally mandated credit checks are required.

Private Loans:
Different terms available. See First State Bank Student Loan Officer Eric King for more details.

Checklist for required documents and other information needed to complete the FAFSA:

• Your Social Security Number
• Your driver's license (if any)
• Your 2006 W-2 Forms and other records of money earned
• Your (and your spouse's, if you are married) 2006 Federal Income Tax Return - IRS Form 1040, 1040A, 1040EZ; Your parents' 2006 Federal Income Tax Return (if you are a dependent student)
• Your 2006 untaxed income records - Social Security, temporary assistance to needy families, welfare or veterans benefits records
• Your most recent bank statements
• Your most recent business and investment mortgage information, business and farm records, stock, bond and other investment records
• Your alien registration number or permanent residence card (if you are not a U.S. citizen)

Federal eligibility requirements:

• You must be a U.S. citizen, national or eligible non-citizen with a valid Social Security Number.
• Males between the ages of 18-25 must be registered for Selective Service
• You must have a high school diploma or General Education Development (GED) certificate or meet a similar standard, including passing the “ability to benefit” test approved by the Department of Education.
• You must be enrolled, seeking a degree or certification through an eligible program.
  

Tips for filling out the FAFSA:

• The number one mistake when filing a FAFSA is leaving a question or field in the form blank. If the answer is zero or does not apply to you, put in a zero or mark “N/A”.
• Read the instructions carefully.
• Double check all of your answers for accuracy.
• Make sure that the form is signed as required. If you submit an electronic signature, make sure you receive a confirmation.
• If you are completing the paper form, be sure all information is legible, paying close attention to numbers, such as Social Security Number, school codes and dollar amounts provided on the form.

Details for different types of Student Loans offered by First State Bank:
Federal Subsidized Stafford Loan:

• Loans made to undergraduate/graduate students
• Eligibility based on financial need
• Student must be enrolled at least half-time.
• Payment is deferred while student is enrolled at least half time.
• 1.5% federally required origination fee paid by First State Bank on behalf of the student.
• Interest rate is a fixed rate of 6.8%
• Interest rate reductions up to 4% off fixed rate available beginning with first payment.

Federal Unsubsidized Stafford Loan (for qualified borrowers):

• Loans made to undergraduate/graduate students.
• Eligibility NOT based on financial need.
• Student must be enrolled at least half-time.
• Payment is deferred while student is enrolled at least half time; however, borrower is required to make interest payments while attending school.
• 1.5% federally required origination fee paid by First State Bank on behalf of the student.
• Interest rate is a fixed rate of 6.8%.
• Interest rate reductions up to 4% off fixed rate available beginning with first payment.
  

Federal GradPLUS Loan (for qualified borrowers):

• Loans made to graduate/professional student.
• Student must be enrolled at least half-time.
• Student must complete the FAFSA.
• Student must have applied for maximum loan eligibility in Federal Stafford Loans.
• Federally mandated credit checks performed.
• Student is responsible for ALL interest accruing on the loan from the time of disbursement until paid in full.
• Repayment begins on the date of the final disbursement of each loan; however, payments may be postponed while in school at least half-time.
• Student may borrow up to the cost of attendance (as determined by the school) minus any other financial aid.
• Interest rate is a fixed rate of 8.5%.
• Interest rate reductions up to 4% off fixed rate available beginning with first payment.

Federal Parent (PLUS) Loan:

• Loans made to parents of dependent undergraduate students.
• Eligibility NOT based on financial need.
• Student must be enrolled at least half-time.
• Federally mandated credit checks performed.
• Interest rate is a fixed rate of 8.5%
• Interest rate reductions up to 3% off fixed rate available beginning with first payment.

Private Loans:

• Different terms available