Stafford Loans for Returning and Transfer Students
Returning students must submit a renewal FAFSA form every year. To determine how much you may be eligible for, visit our undergraduate and graduate Stafford Loan pages. Remember, your school's financial aid office will determine your actually eligibility, which may be less then the maximum amount.
Also, if you did not sign a Stafford Master Promissory Note (MPN), you must renew your Stafford Loan every year. Call your school's financial aid office to find out which kind of promissory note they have on file for you.
One question we often hear from transfer students is, "Can I take my Stafford Loan(s) with me to my new school?" Unfortunately you cannot transfer your loans from one school to another. If you are transferring schools you have to re-apply for Federal Financial Aid by filling out a FAFSA form specifically for that school.
Once you stop attending your old school, your loans from that school will go into your 6-month grace period, then into repayment. To avoid paying while still in school, you can defer paying on these loans until you graduate from your new school. You must fill out a form and apply for deferment. Use the Direct Loan forms for Department of Education loans, or use the Loans forms for loans taken out through private lenders.