Requesting your Stafford Loan
The steps necessary for students to acquire a Stafford Loan--First Time Borrowers and Repeat Borrowers
Martin Luther College participates in the William D. Ford Federal Direct Loan Program. Under the Direct Loan Program, students apply for and receive their loan funds directly from the U.S. Department of Education rather than through a private lender.
Depending on if this is your first time requesting a Stafford Loan, you need to follow the following steps:
- FIRST TIME STAFFORD LOAN BORROWERS COMPLETE STEPS 1-4
- REPEAT STAFFORD LOAN BORROWERS COMPLETE STEP 4 ONLY
If you are not sure you have previously signed an MPN with the U.S. Department of Education, go to https://studentloans.gov; log in and click on "Completed MPN's"
REQUESTING A STAFFORD LOAN IS A FOUR STEP PROCESS. Don’t miss a step or your loan will not be processed!
Get your FAFSA PIN--The PIN serves as your identifier to let you access your personal information in various U.S. Department of Education systems. Because your PIN serves as your electronic signature, you should not give it to anyone. If you don’t have your PIN, you can retrieve it by going to http://www.pin.ed.gov.
Complete Stafford Loan Entrance Counseling. First time borrowers must complete Direct Loan entrance counseling before receiving loan funds.
Complete and sign the Master Promissory Note (MPN) If you don’t have your own computer with web access, check with your public library. Ideally, there should be a printer available, so you can print a copy of the promissory note. You may also come to the Financial Aid Office and we will direct you to a computer. You will be able to complete your Stafford Loan application much faster if you have the following information ready:
Your driver's license number
Names and complete addresses of the two people you will use as personal references. One reference should be a parent or guardian (if living). References cannot have the same address
This link will take first time Stafford Loan borrowers directly to the Student Loan.gov website to complete the entrance counseling and sign the MPN https://studentloans.gov Helpful Hint: Don't forget Step 4 of this process.
STEP 4. Repeat Stafford loan borrowers: Complete and submit the Direct Stafford Loan Request form. The Form was included in your award letter. You may also download the Student Loan Request form here.