How do I apply for a Federal Stafford Loan?
Borrowers must file the Free Application for Federal Student Aid (FAFSA) before they can obtain Federal Stafford loans.
How to Apply, Step by Step
- Complete the FAFSA or Renewal FAFSA (for returning students). These forms may be filed at www.fafsa.ed.gov.
- Receive a financial aid award letter by mail or email. This letter will summarize the financial aid available to the student, including the Federal Stafford Loan.
- Contact your college financial aid office to accept the financial aid and student loans.
- Sign any associated paperwork such as the Master Promissory Note (MPN).
- Once these steps are complete, the college will disburse the funds to the student’s account (usually once per academic term, with no disbursement equal to more than half the funds).
- After the funds are applied to tuition and fees (and room and board, if the student is living in college-controlled housing), any remaining money will be refunded to the student.
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