Applied for a Stafford Loan

Chantels1 · Aug 11, 2007

Check out the link I posted earlier. You don't have to have great credit. A lot of places don't look at credit. Just you can't be in default on taxes or other federal loans.

coolpeach · Aug 11, 2007

Nurse2B,

They do not base the stafford loans on your credit, but they do have max per life time and year. You get slightly higher if your an independent than a dependent. This year is was like $8000 something for an independent and $7000 for a dependent. I have heard a lot of people say that its just not enough to cover private school tuition and fees.

MAmom81 · Aug 11, 2007

You do not have to have good credit to apply for the stafford you just have to start paying it back after you graduate. My credit is not exactly all that great plus I am a stay at home mom so I have no income just my husbands and I still got the stafford loan. you should get the stafford loan with no problem if I can get it with no income anyone can get the loan, good luck and keep us posted!!!

Mexarican · Aug 12, 2007

stafford loans are great when you need them. you fill out the fafsa online and get your SAR.. once your school processes it they will send oyu a financial aid offer which will include the subsidized and unsubidized amounts you can borrow as a stafford loan. your SAR doesn't affect your stafford loan amount....that is mostly for the free money like grants and stuff. If its too high...no free money. so at that point you will only be eligible for a stafford loan. then you select your lender...i always pick the one that lets me sign the MPN (master promissory note) online...mush faster processing. after that the lender or the feds send you information on your loan and when it will be disbursed to your school. allow ten more days after that for you school to get any refund check to you after tuition is paid. i'm not sure if i have left anything out...any questions feel free to ask.

Mex