Determine whether you are eligible for student financial assistance, then find out how to apply for and receive your student loan. Is your school designated? Find out about school designation and research student loan default rates. Determine your eligibility. Before you apply for a loan, you need to make sure you're eligible. How to apply for a loan. Find out how to apply for a loan as a full-time or part-time student. Receive your funding. Find out what happens when you're approved for funding and how to receive your money. Appeal your assessment. Find out what to do if you don't agree with your application assessment. Deal with an overaward. Find out what to do if you receive too much financial assistance.