How do I apply for a Stafford Loan?
Stafford Loan Benefits
- Fixed interest rate - as low as 3.86%
- No payments while in school at least half-time
The Direct Stafford Loan application is the Free Application for Federal Student Aid (FAFSA).
To apply, visit FAFSA.ed.gov.
How to Apply, Step by Step
- Complete the FAFSA or Renewal FAFSA (for returning students).
- Receive your financial aid award letter from your school in the mail or by email. This letter will state all the financial aid you are eligible to receive including the Stafford Loan.
- Contact your financial aid office to accept your loans.
- Sign any associated paperwork such as the Master Promissory Note (MPN)
- Once the above steps are complete, your school will disburse the funds in your account each semester.
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?