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Student Services

Student Loan Options

Federal Student Loans

Applying for and obtaining guaranteed student loans doesn't have to be a confusing and frustrating experience. Follow the steps below to assist yourself in simplifying the process.

First, fill out the Free Application for Federal Student Aid (FAFSA) which you can obtain from the school you are attending or which you can access online at This form needs to be completed each year you wish to obtain student loan funds. Don't wait until the last minute to make application.

Approximately four weeks after submitting the FAFSA, both you and the school will receive a Student Aid Report (SAR). Your school's financial aid office will then determine your eligibility for grants, loans and any other aid available through the school. You'll then receive a financial aid award letter advising you of available options.

At the time you receive your award letter, the school may enclose a loan application or they may have already submitted your information electronically to a guarantor who will be in contact with you. Stay in touch with your school's financial aid office at this point and refer any questions you have to them. The financial aid office will be handling loan disbursements and will advise you as to the timing of those payments.

Great Lakes Educational Loan Services has an especially good website that explains the process and your options in detail. You can access the site at

Smart Option Student Loan

Once eligibility for guaranteed student loans and other aid has been determined, students often still find themselves short of funds with which to cover the expense of higher education. These students and parents can bridge the gap with The Peoples Community Bank Smart Option Student Loan® by Sallie Mae®.

This loan is designed to give you the funds you need for school while also helping you with flexible repayment options, which can help you save on interest and keep your payments affordable. The Smart Option Student Loan helps students save money, pay off their student loan faster and build credit.

For more information and to apply, please visit