Student Loan News, Updates and Blog Posts

I’ve spoke to many students who were under the belief that the fafsa and Stafford loan were the same thing; they are not. One does lead to the other however.

You can have a FAFSA without a Stafford loan, but you can not have a Stafford loan without a FAFSA. You need to first complete your FAFSA to see if you qualify for a Stafford loan. Did you follow that?

Then, assuming you qualify, you complete your Stafford loan Master Promissory Note (MPN) next.

So to re-cap…

1. complete your FAFSA

2. complete your Stafford loan MPN

These are two separate steps. Of course you can always speak to your financial aid office at your school for further guidance as well.