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Stafford Loan Home Page

Federal Stafford Loans are the Financial Aid Office's major form of self-help aid. Federal Stafford Loans are available through the Federal Family Education Loan Program (FFELP). Other loan types are also available. Terms and conditions of loans are similar with major differences being the source of the loan funds, some aspects of the application process and repayment plans. Regardless of loan program, the process begins with the FAFSA.

The choice of a lender and a guarantee agency is a decision and responsibilty of the borrower.

The various types of loans available are as follows:

1. Stafford Subsidized and Unsubsidized Loans
2. Federal Perkins Loan
3. Nursing Student Loan
4. Parent Plus Loan
5. Alternative Loan
6. Grad Plus Loan

PROCESSING STEPS:

1. Complete the FAFSA or Renewal FAFSA either on line or by mail


2. Respond to Fresno State's email Document Request Letter or paper Document Request Letter promptly to complete your file.


3. Receive and review your email Award Notification including the Loan Information Page link.


4. Attend an Entrance Counseling Workshop


5. Follow the instructions in the Award Notification to accept or decline loans using the Student Portal.  This will include selecting a lender form our Lender Comparison Chart. Loan information will be transmitted by Fresno State to EdFund (Guarantee Agency)


6. You will receive an email from Edfund notifying you to access their website to e-sign your Master Promissory Note using your FAFSA pin #. Once the e-signature is in place the note will be forwarded to your lender


7. You will receive notification from the lender that the funds have been electronically transferred to Fresno State.


8. After 7 to 10 working days you may check on the Portal in your Student Center to verify the funds have been disbursed. 

ENTRANCE COUNSELING WORKSHOPS

Workshop attendance is required of all borrowers who have not previously attended a loan workshop, in order that our institution comply with federal regulation.  The entrance counseling workshop schedule can be viewed by clicking here or go on-line to  EDTEST to complete  the process electronically.  Attendance is mandatory if you wish to apply for either the subsidized or unsubsidized Federal Stafford Loan. The purpose of this workshop is to assist you in becoming an educated borrower, more aware of your rights and responsibilities, and better able to make wise borrowing choices 

MASTER PROMISSORY NOTE:

A promissory note is a legal document that you will sign promising to repay your loan and agreeing to the terms and conditions of the loan. A Master Promissory Note (MPN) is a contract between you and your lender. We use the MPN as a serial note here at Fresno State, so you will only have to sign a single note while attending here, provided you do not change lenders.

RECEIVING YOUR STAFFORD FUNDS:

Funds for Federal Stafford Loans will be electronically transferred to your student account.  Academic year loans will be disbursed in two installments:  one during the first half of the loan period and the second at the beginning of the spring semester.  Single semester loans will be disbursed in one disbursement.  First time freshmen who accept a Stafford loan have their first disbursement delayed until 30 days after the beginning of the semester. If the 30 day delay occurs during census week the first disbursement will be the week before census.  Funds will be released only after enrollment and Satisfactory Academic Progress have been verified. Once the semester has begun, funds transferred to Student Financial Services that do not have a “hold”, will be mailed.  Disclosure statements regarding loan amounts, deducted fees, and funds transferred will be sent to students by the lender.  All eligible funds must be disbursed within 3 business days of receipt, or they will be returned.  Additional disbursement information will be included with your award notification.

Federal regulations mandate that schools confirm completion of entrance counseling before they deliver loan funds to a student and Exit Counseling within a reasonable time prior to the student leaving school.