Federal loan papers
The FAFSA (Free Application for Federal Student Aid) starts everything — it's the application for federal aid, and it's free. Never pay anyone to file it.
The award letter from the school lists what you're offered: grants (free), work-study, and loans (not free). You can accept some and turn down the rest. Borrow only what you need.
The Master Promissory Note (MPN) is your promise to repay, signed online at StudentAid.gov. One MPN can cover loans for multiple school years, so that one signature carries a lot of weight. the current forms and steps are always at StudentAid.gov
Entrance and exit counseling are short required online sessions — one before the money comes, one when you leave school. Don't click through them blindly; they answer the question most graduates wish they'd asked: "how much will I owe, and what's the payment?"
Private loan papers
Private school loans look like personal loans: an application with a credit check (many students need a co-signer), a cost disclosure showing the APR and total cost, and a self-certification form the school helps complete. federal rules (Regulation Z) require this form before a private school loan can close
A co-signer signs the same promise you do. If you can't pay, they must. That's a real obligation for a parent or grandparent, not a formality — some lenders offer a "co-signer release" after a run of on-time payments, which is worth asking about up front.
The one rule that outranks every document
Take federal loans before private ones. The paperwork is telling you why: federal notes come with rights built in — payment plans tied to your income and hardship pauses — that private contracts mostly don't. Our student loan guide covers this in depth, including the extra care to take with for-profit and trade schools.