I'm applying for my Stafford loan online, and it's asking me for an MPN code. What is the MPN code?
The code is located within the legal document of the Master Promissory Note (MPN). The reason there is a code to enter is to ensure you read the information.

What if I don't have my pin number with me when I'm completing the Stafford loan online?
You have the option of printing off the Master Promissory Note (MPN), signing it and mailing it in. The loan continues to be processed even while the MPN is in the mail.

How do I know who my Stafford loan lender was last year?
You can perform a search for your previous lender within the online application if you answer "No" to the question that asks if you know your previous lender. The search link is attached.

How long does it take for the school to process the Stafford loan?
It usually takes about a week to process the loan, depending on the time of year. Completing the online process at least three weeks prior to the beginning of the term increases your chances that the loan will be processed before the term begins.

Do my parents have to sign the Stafford loan application?
No. Stafford loans are borrowed by the student and the student is responsible for repayment of the loan.

Do I have to complete a new Stafford loan MPN every year?
No. You do not need to electronically sign and complete the actual Stafford loan MPN each year. You must, however, complete the Stafford loan online process each year to inform us of the lender you want to use and the amount you want to borrow.

What terms should I list when applying for the Stafford loan?
If you know that you will be here both Fall and Spring terms, you would apply for a Fall- Spring loan. If you are only attending one term, borrow for the term that you are attending. Summer term is always considered as a separate loan period from the academic year, so you must complete the request for "summer" if you want a summer loan.

How much Stafford loan funding can I borrow?
Your award letter lists the maximum you are eligible to borrow. If you receive additional funding throughout the year there is a good chance that part of your loan may be cancelled.

What if I need more loan money than I am eligible to borrow under the Stafford loan program?
Additional types of loans are located on the LSC website under "alternative loans". It is usually best to apply for either the Self loan or the Plus loan before applying for an alternative loan.

What if I apply for a Stafford loan before I get an award letter?
Your loan can not be processed before your award letter has been processed. You must re-apply for a loan once your award letter has been processed.

How will I know when my Stafford loan has been certified by the school?
You will receive an e-mail to your LSC e-mail account stating that your loan has been certified. EAC, the guarantee agency, will also mail you a disclosure statement with the disbursement dates listed.

For more Stafford Loan FAQ's: Apply Stafford Loan .