We recognize that parents often play a large role in funding their child’s higher education. However, we request that parents allow their children to manage their own ABF application. We are making loans and grants directly to students, and it’s important to us that they actually fill out the application and communicate with us throughout the process. We have provided a wealth of information about financial aid and our programs on this site, and we are happy to answer any questions you have, but please do not create the online application and start filling it out for your child.  We want your child to appreciate what is involved in the application process and to gain the full benefit from the learning experience.

Frequently Asked Questions By Parents

1. How do I start my child’s application?
   We request that parents do not take any part in filling out their child’s application.  It is the responsibility of your child to read the instructions and take responsibility for the application process.  Please direct your child to the collegiate overview page where they can learn more about our program.
2. What financial documents are required?
   We require that co-borrowers provide their 1040s for the past three years.  Co-borrowers must be a fiscally responsible adult with an annual income equal to or greater than $50,000.
   If the co-borrower’s income is less than $50,00 per year, we require a credit score.
   The co-borrower can be a parent, relative or friend, but not a spouse.
   If a co-borrower cannot be found, your child needs to provide an explanation in the “Comments” section of the online application.  Our North American Program Manager may contact him or her with more questions.
3. What is the interest rate and repayment schedule for loans?
   We award ten year loans at 3% interest.  Repayment and interest accrual do not begin until 12 months after the student’s graduation.
4. When will my son/daughter be notified of the award decision?
   It takes approximately 6–8 weeks to process an application from the submission deadline.  You can find deadlines and approximate notification dates on our Application Deadline page.