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Returning and Transfer Students
Returning Students
Returning students must submit a renewal FAFSA form every year. Visit FAFSA Online to fill one out online. 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 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.
Transfer Students
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. You can find our online FAFSA form at FAFSA Online.
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. Visit our Forms section for the correct form. Use the Direct Loan forms for Department of Education loans, or use the Loans forms for loans taken out through private lenders.
Deferring while in your grace period will not fix your loans at the grace period interest rate. In order to fix your loans at the grace rate you must consolidate while in the grace period, then defer. Visit Student Loan Consolidator to learn more about school loan consolidation.
