Stafford Loan Blog

Non Valid Dependency Override Conditions for Stafford Loans

 -  The Higher Education Act allows a financial aid administrator (FAA) to make dependency overrides on a case-by-case basis for students with unusual circumstances. If the FAA determines that an override is appropriate, she or he must write a statement detailing the determination and must include the statement and supporting documentation in the student’s file.

Who is my Stafford Loan Lender?

 -  I actually hear this question quite often, and in the interest of full disclosure I must admit that I didn't know who my lender was when I took out my Stafford loan either.

Can a Lender Decline me for the Stafford Loan?

 -  A FFEL lender is prohibited from discriminating against an applicant on the basis of race, national origin, religion, sex, marital status, age, or disability.

FFEL Lender of Last Resort

 -  Did you know that a student who is otherwise eligible for a subsidized Stafford loan and, after not more than two rejections, who has been unable to find an FFEL lender willing to make such a loan, should contact the guaranty agency in his state of residence or the guaranty agency in the state in which his school is located?

What Fees are Attached to My Stafford Loan?

 -  Did you know the Stafford loan has fees attached to it? There are two different fees attached, an origination fee and a default fee. Now here is the good news - those fees are coming down.

Subsidized vs. Unsubsidized Stafford Loans

 -  There are two primary differences between the subsidized and unsubsidized Stafford loan, the interest rate and when the interest begins accruing on the loan.

Service Deferment and Forgiveness

 -  When many college seniors graduate in May they will be facing a tough job market and student loan bills. Because of this, many soon-to-be college graduates are considering alternative post-graduate options. For students who decide to engage in post-graduate volunteer service there are a few student loan benefits.

Do I Renew My Stafford Loan MPN Every Year?

 -  When used as a multi-year document, the Stafford loan MPN enables student borrowers to get additional loans without signing a new MPN. However, there are still several circumstances that require a borrower to complete a new MPN.

Confused about financial aid?

 -  If you are a parent of a prospective college student, or a prospective college student yourself, you should be starting to think about financial aid. You have probably heard people around you talking about FAFSA, Stafford loans, Pell Grants, scholarships, and alternative student loans. It might seem like you are the only one who does [...]

Graduate Loan Deferment

 -  The day you can hoist your graduate degree overhead will be a proud day no doubt, but then the reality sets in. How much did I borrow for this piece of paper exactly?