Stafford Loans

March 24, 2020 6:38 PM

I have a several questions on federal student aid and loans. -Is your income recalculated each year? -How does one apply for Stafford loans?

I have been accepted into a Grad School program and received notification of my available merit awards. I have filled out a FAFSA. I am showing a high income from my previous full-time employment and am not eligible for any student aid. I think I will eligible next year based on my lower self-employed income from this year? Is that true? Or does your income on entering school matter? My FAFSA says I am eligible for direct unsubsidized Stafford loans but I can't figure out how I apply for them? Is it through my school's financial aid office? Will I only see that information when I accept their offer? Office is currently closed due to corona and am just trying to figure out how this works in general.

posted by edbles to Work & Money (2 answers total)

Yes, your FAFSA info changes with your income info year to year. That's why you fill it out every year.

You should call your school's financial aid department-- they will be able to help you access federal loans. They can also be answer many of your questions! You may also see a federal loan application in your admissions/financial aid self-service account.

You can also try calling the admissions office-- they may still be open.
posted by blnkfrnk at 6:58 PM on March 24, 2020

Yeah, contact the university's financial aid office by email. They're probably working remotely. I work at a university and that's what we're all doing.
posted by mareli at 10:57 AM on March 25, 2020