Federal Direct Stafford LOANS

2013-2014

Federal Direct Stafford Loan 

 

(Must be enrolled in 6 eligible units. Other eligibility requirements must be met to qualify)

Deadline

Friday, May 2, 2014 is the last day to submit a Loan Application for the Spring 2014 semester

Follow These Steps to Apply for a Federal Direct Stafford Loan:

  • Understanding student loans is very important.  Before applying for a loan you should make sure that you fully understand its terms and conditions.  You should also beaware of your rights and responsibilities.  Use the following link to to learn these and more.  Read Your Federal Student Loans 
  • Complete a 2013-14 Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov. 
  • Complete your financial aid file before submitting your loan request documents. Review your financial aid status on the Student Information System to see if you have any remaining documents to complete your financial aid file.
  • Direct Loan Entrance Counseling: All borrowers must complete the Direct Loan Entrance Counseling. Proof of completion must be submitted with loan packet.

    Please Note:  Repeat borrowers must complete entrance counseling again. The proof of completion must be dated on or after July 1, 2013 (exceptions may be made on a case-by-case basis). 

  • Master Promissory NoteNew borrowers must complete a Master Promissory Note (MPN). All borrowers must submit a copy of the MPN.

    • Borrowers that completed financial literacy lessons al LA City College in a prior academic year
      • Choose any three (3) lessonsYou may choose a lesson that you previously completed.  However, if you don't get a higher score your results will not be recorded.  You will then have to repeat the lesson or choose a different one. Instructions are on page 1. The list of lessons is on page 2. There is short test at the end of each lesson. You must score at least 70% on each lesson.
      • Print out the test results only and submit them with the loan packet. DO NOT PRINT OUT THE ENTIRE QUIZ.
    • Borrowers that have never completed financial literacy lessons at LA City College
      • Complete Lesson 203, How Do I Live on a Budget While I’m in School? 
      • Choose any other two (2) of the remaining lessons. Instructions are on page 1. The list of lessons is on page 2. There is short test at the end of each lesson. You must score at least 70% on each lesson.
      • Print out the test results only and submit them with the loan packet. DO NOT PRINT OUT THE ENTIRE QUIZ.
  • Student Loan HistorySubmit a printout of your student loan history (If you have never borrowed before you will still print out the history. It will be blank).

  • Submit valid state issued picture identification, or U.S. passport