How do I apply for a Stafford Loan?

• Fixed interest rate - as low as 3.4%
  
• No payments while in school at least half-time

To apply for a Stafford Loan you must follow these steps:

• You must fill out an admissions application at your school of choice and be accepted into the college/university.
• You must complete the Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA (for returning students).
• You wait to receive your financial aid award letter from your school in the mail. This letter will state all the financial aid you are eligible to receive including the Stafford Loan.
• Once your award letter is received, you should apply for the Stafford Loan, as well as look at other federal student loans or private student loans.

Check out our financial aid forum to post questions and engage in conversation with peers and industry leading financial aid experts.

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?
• Why did I receive less than what I thought I would receive in Stafford Loan funds?
• 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?
• How can I bridge the financial gap between the total cost of education (including room and board, fees, books) and the amount of financial aid I was awarded?
• 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?
• What are the Stafford Loan cancellation policies?

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