FAU FEDERAL STAFFORD LOAN PROCESS 2009-2010


The FAU Federal Stafford Loan process consists of the following steps:

1. The student receives an OFFER of a Federal Stafford Loan
  from the FAU Office of Student Financial Aid as part of their financial aid package.
       
2. The student accepts their Stafford Loan award through the
  “Accept Award” function on MyFAU . If, prior to any loan disbursement, a student wishes to accept only a partial amount of their loan offering, they may specify the partial amount of their loan offering they wish to accept during the on-line acceptance process:
  

 

3. Students who have NOT previously received a Federal
   Stafford disbursement from FAU since September 2002 must complete the following requirements:
      
  

NOTE – students who have previously received a Federal Stafford Loan disbursement from FAU  have already satisfied these requirements.

  1. Student must complete Federal Stafford Loan Entrance Counseling .

  2. Student must decide on their preferred Federal Stafford Loan lender. As fees and benefits vary among lenders, it is important that students research and compare their options prior to deciding. The FAU Office of Student Financial Aid can process a Federal Stafford Loan with any lender participating in the Federal Family Education Loan Program. Informational links to several lenders that have established a record of timely processing with FAU can be viewed at the Federal Stafford Loan Master Promissory Note area of this website.

  3. Student must complete a Federal Stafford Loan Master Promissory Note (MPN) with their preferred lender. For many lenders, this requirement may be completed on-line. FAU provides links for on-line MPN completion with several established Stafford Loan lenders at at the Federal Stafford Loan Master Promissory Note area of this website. Transfer students who have previously received Stafford Loans from their preferred lender should contact the lender and confirm the MPN is valid for new loans.

  4. After the student has completed ALL of the above steps, the student must submit a Stafford Loan Requirements Checklist to the FAU Office of Student Financial Aid to confirm completion of all Stafford Loan processing requirements.

After the above steps have been satisfied, eligible students will have their loan information transmitted to their designated lender after the drop/add deadline of the term for which the loan is intended. Stafford Loans begin to be disbursed during the third week of each semester to students attending at least half time.

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