What are the eligibility criteria for student loans from the Missouri Higher Education Loan Authority?

The eligibility criteria for student loans through the Missouri Higher Education Loan Authority typically involve several important factors that students must meet to qualify. First, applicants generally need to be enrolled or accepted for enrollment in an eligible degree or certificate program at an accredited institution of higher education. The program usually must be at least half-time to qualify for federal student loans. Another key criterion is citizenship status; applicants often must be U.S. citizens or eligible non-citizens. Additionally, the student must have a valid Social Security number. It is important for potential borrowers to demonstrate satisfactory academic progress as defined by their educational institution, as this can impact their eligibility for continued funding. Many student loans also require a demonstration of financial need, which is typically assessed through the completion of the Free Application for Federal Student Aid, commonly known as FAFSA. This assessment considers the student's and, if applicable, the family's financial situation to determine the expected family contribution. Lastly, students must be in good standing with any previous student loans. If a borrower has defaulted on a loan or is not compliant with repayment terms, this may negatively impact their eligibility for additional loans. For the most current and specific eligibility requirements, it can be beneficial to review the official website of the Missouri Higher Education Loan Authority, as policies may change over time and they provide the latest information regarding student loan options and criteria.