Stafford Loan process is made quick and simple at EdFed.
Stafford Loan process :
1. Complete the FAFSA
The first step in the Financial Aid Process even if you've received a Stafford Loan in the past is to complete the FAFSA. Complete your FAFSA as soon as possible after January 1st.
2. Check your Student Aid Report (SAR)
About three to six weeks after you've submitted the FASFA, you will receive your Student Aid Report (SAR). Return it to your financial aid office (if they've instructed you to do so) after checking it properly for any errors.
3. Financial aid package
Your school's financial aid division will provide you with a financial aid package which will include scholarships, grants, and various career programs. You may also receive Stafford loans.
4. Fill your Stafford application form
Apply online or dial (800) 821-5659 and speak with our expert loan advisor for swift and easy reference to any queries in filling up your Stafford application.
5. Receive funds after certification
After submitting your loan application, your school will certify and forward it to the Disbursing Agent for final approval. You can receive your funds at the beginning of each school term or you can get direct access to them, depending upon your selected loan kinds.
6. Repayment process begins after graduation
You will receive a payment schedule from your loan provider after six months of your graduation or completion of your enrollment. You should look for consolidating your Stafford loans with the current low rates in order to reduce your debts. EdFed's loan consolidation program is the quickest route to your cutting your debts.
For any further queries, we are just a call away! Call us at (800) 821-5659 and speak with our expert loan advisor.
How EdFed Helped others!
Consolidating my federal loans reduced my interest rate and my monthly payments by $512.36. Now I can confidently say that I am on my way to a debt-free future. Thank you so much EdFed! - Daniel N. Columbus, OH