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Summary Info
Detail Info
Stafford Loan Chart
Stafford Loan Rates
Eligibility-Dependency
Apply for Stafford Student Loans

Notes
· Federal law requires that education institutions accept all completed stafford applications regardless of the lender selected by the applicant.

Loan Calculators

· add up college costs
· how much to borrow
· loan payment calculator
· how much loan to afford
Before You Exit
Student Loan Eligibility
To receive financial aid assistance, you must:
display a need for financial aid (except for unsubsidized Stafford and PLUS loans).
complete high school and have been awarded a high school diploma or a General Education Development (GED) Certificate.
pass a college entrance exam approved by the U.S. Department of Education, and/or meet other standards your state may establish.

link to view state requirements:
http://www.ed.gov/Programs/bastmp/SHEA.htm
be enrolled or accepted for enrollment as a regular student working at least half-time toward a degree or certificate in an eligible program.
be a U.S. citizen or eligible non-citizen.
have a valid Social Security number:

link to obtain SSN:
http://www.ssa.gov/online/ss-5.html
make satisfactory academic progress.
sign a statement on the Free Application for Federal Student Aid (FAFSA) certifying that you will use federal student aid only for educational purposes:

see our note on FAFSA form submission:
see our financial aid note 1
sign a statement on the FAFSA certifying that you are not in default on a federal student loan and that you do not owe money back on a federal student grant.
register with the Selective Service (for young men age 18 and over):

you can register online:
http://www.sss.gov/
Dependent vs. Independent Status
different eligibility loan amounts will be awarded for dependent and independent students
students who have access to parental support are classified as dependent students
dependent students and their parents must report respectively their income and assets on the FAFSA form:

see our note on FAFSA form submission:
see our financial aid note 1


students who display at least one of the following requirements are classified as independent students:

  • you were at least 24 years of age on January 1 of the academic year you begin school
  • you are married
  • you are enrolled in a graduate or professional program (beyond the bachelor's degree)
  • you have legal dependents other than a spouse
  • you are an orphan or ward of the court (or were a ward of the court until age 18)
  • you are veteran of the U.S. Armed Forces ("veteran" includes a student who attended a U.S. military academy who was released under a condition other than dishonorable)
independent students must report only income and assets of their own (and those of their spouse, if married)
use this Dependency Status Form worksheet to determine your potential eligibility status:
http://www.finaid.org/calculators/dependency.phtml

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