Do I have to apply for a Stafford Loan every academic year?
- Fixed interest rate - as low as 4.66%
- No payments while in school at least half-time
Yes. You must apply for federal financial aid each school year if you want to keep receiving Stafford loan funds.
To re-apply for the loan, you should complete the same process as prior years by-
- Filing your FAFSA
- Receiving your award letter
- Accepting your Stafford Loans and other federal aid
For questions, contact your school's financial aid office
Stafford Loan Frequently Asked Questions
- Am I eligible for a Stafford Loan?
- How do I apply for a Stafford Loan?
- Are there Stafford Loan deadlines?
- What's the difference between unsubsidized and subsidized loans?
- When do I receive the Stafford Loan funds?
- What are the Stafford Loan interest rates?
- How much can I borrow under a Stafford Loan?
- What is EFC and how is it calculated?
- What can I use a Stafford Loan for?
- Are there specific schools that accept Stafford Loans?
- Do I have to apply for a Stafford Loan every academic year?
- Can I receive a Stafford Loan if I have bad credit/declared bankruptcy/have late payments on credit cards?
- Will I pay any fees for a Stafford Loan?
- What are the repayment options for a Stafford Loan?
- What are the penalties for early payment or if the loan is paid in full before scheduled (deferred) payments begin?