Stafford Loan Progam

Stafford Loan Programs

When it comes to beginning the financial aid process, so often we hear people ask "Where do I begin?" We're here to help and guide you throughout the process. On this page we've outlined the steps to applying for a Stafford loan, step by step.

The first thing to do is to File a FAFSA. The FAFSA is the first and most important step towards getting a Stafford Loan; you can't get a loan without filing yours, and it's free.

You can file your FAFSA at FAFSAonline.com and save time by filing electronically. Be sure to include the school's FAFSA code (or prospective schools, if you are a high school student) to ensure that the results are sent to your school's financial aid office. Remember, the earlier you file your FAFSA, the more likely it is that you will be awarded financial aid for which you are eligible!

Receive and read your Student Aid Report (SAR) and award letter. Three to four weeks after filing your FAFSA, you'll receive in the mail a copy of your Student Aid Report, or SAR. A copy will have been sent to the school(s) of your choice.

Approximately one to two weeks after you receive your copy of the SAR, look for a financial aid award letter from your school detailing how much aid you are eligible for, and in what forms that aid will take.

Apply for the Federal Stafford Student Loan. Once you have your award letter, if you have been awarded the Stafford Loan, you will need to fill out an applicaiton for the loan. You can get the applicaiton off the web from several sites or your can get an application from your college.

Be sure to print and sign the promissory note! Be sure to keep a copy for your records!

Be sure to mail the application to the address specified in the application!

Remember that you will need to file a FAFSA and Stafford Loan application every year!

To keep up to date on the latest changes about the Stafford Loan and the other programs that could affect your ability to have your child gain a college degree we suggest you subscribe to The College Planner Digest.