Applied for a Stafford Loan

Published

So on the advice of the wise and wonderful dwellers of this board, I applied for a Stafford Loan. Anyone know how long it takes to find out if I got it? Any info, appreciated.

Can't WAIT til school starts!!!!!

Up Vote Up Vote ×
Specializes in Almost everywhere.

I had subsidized Stafford loans and I remember finding out right away from my financial aid officer that I had qualified and what the amount was. Otherwise, I also remember prior to the start of each semester, I would get a post card in the mail that my financial aid was available for my review, then I had to go online and either accept or decline a partial or the full amount of my Stafford loans.

I am sorry I don't know much more than that. Seems like a long time ago that I had to think about it. Good luck!

Up Vote Up Vote ×

Do you mean you filled out your FAFSA and are waiting to hear what is available through your college? I did my FAFSA on the net yesterday and it said it would be processed within 3-4 days. After that I can see my SAR (student aid report). After that, my school will contact me with everything that is available to me. Once I decide what I want then I do the paperwork for the loan. At least this is what I understand. Here is where I got my loan info

http://www.staffordloan.com/stafford-loan-info/

Up Vote Up Vote ×
Specializes in ER/Ortho.

The first time I applied for a Stafford it was a long process. My school makes it mandatory that you go to a loan information session so I went to that. I filled out the paper work and turned it in. It took about 20-25 days before I got an email to go to a TGloansweb place online to accept my loans. When went there it made me list my three personals references, pick my bank etc. Then it was like two more weeks before it showed up on my financial aid at school. Again I am not sure if its a school thing, but I think it's federal loan thing, but you have a longer wait on your first application. They wouldn't release my remainder money to me for 30 days after the start of classes. Now this year since its my second loan its supposed to come when my grant money does. I hope this helps.

Congrats...you have joined the ranks of all of us who OWE. lol

Up Vote Up Vote ×

OK, I received my SAR today. It was quick! Since I filed online, will it automatically be sent to my school or do I need to take it to the financial aid office? I am under the impression that it goes automatically, but I don't want to miss out on my loan if I can get it!

Up Vote Up Vote ×
Specializes in ER/Ortho.

It is automatically sent to the school/schools you listed. If you want call and verify they received it.

Up Vote Up Vote ×
It is automatically sent to the school/schools you listed. If you want call and verify they received it.

Thanks again coolpeach! I probably will call the school next week after they get a chance to receive it. Once they receive it how long does it take for them to "process" it and come up with options for me? I know pretty much my only option is an unsubsidized stafford loan, so I don't think it should take too long.....

Chantel

Up Vote Up Vote ×
Specializes in ER/Ortho.

I can't remember how it long it took originally. I think maybe a couple of weeks. They probably have a lot this time of year since everyone is trying to get ready for the semester to start. I would certainly call or maybe even drop by and that would call their attention to your case, and it may not help, but who knows it could.

I am NOT sure its the same at every school, but at my school they automatically check out grants and free money for you. Then when they give you that information you call/go to your adviser and tell her you would like a Stafford loan. They never offered it to me I had to ask. I got grants for a year before I realized I was eligible for Stafford loans or what they were.

Up Vote Up Vote ×

I don't think I will be eligible for a grant. My EFC is almost $10,000.... Wish they took child care into consideration when they calculated EFC's! With 4 kids I know that I will spend more on child care than classes and books combined and then some!!!

Up Vote Up Vote ×
Specializes in ER/Ortho.

Well stop making all that money...or just donate some to me lol. They always run you through for grants anyway before they do anything else. Another thing you might want to look into is services at your college. I am not sure where you go, but I go to a CC which is one of an entire district of CC's here in Dallas. One of the CC's has on site daycare at reduced fee's staffed by education students. At the CC that I take most of my classes at they have a program for adults with jobs/families/children who are returning to college. They offer a ton of helpful services including help with daycare. I have never done it because my kids are old enough to stay alone, but I have talked to others who have. Even if you don't qualify for free daycare you might be able to get a bit taken off when they see your income vs. expenses. In addition they offer a book loaning service which you do not have to qualify for and they will loan you a book for the semester instead of you having to buy it (I have done this).

Up Vote Up Vote ×

I also got a stafford loan and it's great because I am now able to go to school and I do not have to start paying it back unitl after I graduate. But now I owe!!! And I still have to go to Community College for my pre-reques and for thier RN program!!! The school i am at is for Assoicates of Health Administration, my academic counselor said that with this degree I can work in the ER admissions department which is great but I am still going to school to become a RN it will just take me a little longer to getmy ADN degree:nurse::nurse:Nurses are the Best!!!

Up Vote Up Vote ×
Specializes in Critical care, Pediatris & Geriatrics.

hi everyone!

does anyone know if you must have good credit to get these loans? i'm currently attending 2 colleges. one cc and one private school. i do have financial aid for the cc but if i'm not accepted into the cc in oct..i will go to the private school. the problem is that i don't know if i must have good credit to get a loan so large. any suggestions or personal knowledge would be greatly appreciated. the private college suggests using sallie mae...but like i already said i recieve financial aid and already have fafsa on file, should i just try to apply for a stafford loan?

thanks so much!!

amy (nurse2b):monkeydance:

Up Vote Up Vote ×
+ Join the Discussion