Edinboro University of PA

Financial Aid

STEPS TO APPLY FOR A STAFFORD LOAN

Step One: The student must file the FAFSA. Please make sure you answer “yes” to the question “are you interested in loans.”
Step Two: The Office for Student Financial Support and Services will send an award letter offering loans.
Step Three: The student must return the award letter if they wish to decline or reduce the amount of the loan.
Step Four: The Office for Student Financial Support and Services pre-certifies the loan and forwards the data electronically to PHEAA.
Step Five: PHEAA will send (to new borrowers only) a Master Promissory Note (MPN). The student must complete the MPN as instructed and return to PHEAA.
Step Six: Continuing borrowers will be sent a “Disclosure Statement” from PHEAA informing them of the type of loans, the amounts, and anticipated disbursement dates.
Step Seven: All first-time borrowers must complete an "Entrance Interview," which discusses the student's rights and responsibilities. You may satisfy the Entrance Interview requirement at www.pheaa.org. Click on Exit and Entrance Counseling under Other Helpful Tools.

STAFFORD LOAN BORROWING CHART
Grade Level	Annual Amount*
First Year (0-29 credits)	Up to $2,625
Second Year (30-59 credits)	Up to $3,500
Third/Fourth Year (60-120 credits)	Up to $5,500
Graduate	Up to $8,500
*Combined total of subsidized and unsubsidized. Please note: Independent students and dependent students whose parents cannot obtain a PLUS Loan, may increase their “unsubsidized” Stafford Loan limit by the following amounts:
Grade Level	Additional Amount
First/Second Year	Up to $4,000
Third/Fourth Year	Up to $5,000
Graduate	Up to $10,000

Back

dmd 3/2008

Step One:	The student must file the FAFSA. Please make sure you answer “yes” to the question “are you interested in loans.”
Step Two:	The Office for Student Financial Support and Services will send an award letter offering loans.
Step Three:	The student must return the award letter if they wish to decline or reduce the amount of the loan.
Step Four:	The Office for Student Financial Support and Services pre-certifies the loan and forwards the data electronically to PHEAA.
Step Five:	PHEAA will send (to new borrowers only) a Master Promissory Note (MPN). The student must complete the MPN as instructed and return to PHEAA.
Step Six:	Continuing borrowers will be sent a “Disclosure Statement” from PHEAA informing them of the type of loans, the amounts, and anticipated disbursement dates.
Step Seven:	All first-time borrowers must complete an "Entrance Interview," which discusses the student's rights and responsibilities. You may satisfy the Entrance Interview requirement at www.pheaa.org. Click on Exit and Entrance Counseling under Other Helpful Tools.