How to Take Out Stafford Loans?

Paying for College
1

<p>Hi, I have a small question.</p>

<p>I know this might seem really stupid or simple, but I can't find out how to take out stafford loans. I would like to take one out for the upcoming semester. The university that I attend gives has a generous full-need, all-grant financial aid policy, so I was not offered loans in my financial aid package.</p>

<p>However, whenever I look at official websites, they state that stafford loans are accepted through your school, and they really do not state an application process or any real alternative method. They seem to have information about how to apply for parent plus loans, but this is not the type of loan that I would like to take out.</p>

<p>Can anyone offer me any advice? Thanks for any replies.</p>

2

<p>You have to submit FAFSA and you have to have some uncovered COA. If you rec’d aid for all of your school’s COA, then you can’t get a Stafford loan because it’s not going towards college costs.</p>

3

<p>Thanks for the tip. I submitted the fafsa, and my aid does not cover everything, my family is expected to pay a certain portion. Maybe I have to work through my school’s financial aid department? I will try calling them today.</p>

4

<p>The formula to determine eligibility for a subsidized Stafford loan is as follows:
COA - EFC – Financial Aid = Calculated Need (Loan Eligibility)</p>

<p>The formula to determine eligibility for an unsubsidized Stafford loan is as follows:
Cost of Attendance – Financial Assistance = Calculated Need (Loan Eligibility)</p>

<p>Both Stafford loans may never exceed the student’s total COA</p>

5

<p>You do need to call your school’s FA dept. They may not be checking for your application since you already have a full tuition scholarship.</p>

6

<p>What is the difference between an unsubsidized and a subsidized Stafford Loan?</p>

7

<p>See [Subsidized</a> and Unsubsidized Loans | Federal Student Aid](<a href=“http://studentaid.ed.gov/types/loans/subsidized-unsubsidized]Subsidized”>http://studentaid.ed.gov/types/loans/subsidized-unsubsidized)</p>