Loans

What loan dates are we currently processing?
The FAO website’s homepage has a scrolling news bar in the upper right hand corner. The dates we are processing are listed here. You can save a trip to the office by checking this online!

Why wasn’t I awarded the amount I requested on my Stafford loan application?
When processing Stafford Loans, many factors are taken into consideration. Some of these include your housing accommodations (i.e. with parent, away, campus housing), classification (i.e. freshman, senior, grad student), EFC (expected family contribution), other financial aid or monies received (Pell Grant, HOPE, FWS, VA benefits, etc.), your aggregate limit (the total amount of loan funds you have received throughout college) and whether you requested subsidized or unsubsidized monies. Either one or a combination of these factors could affect your Stafford Loan eligibility.

How do I find out who my lender is and/or get additional information about my loan?
Your lender is chosen when you complete your loan application. It is your responsibility to maintain this and all other important information relative to your Stafford loans. We recommend that you keep a file for this purpose. Should you require additional information about your loans and/or your lender, this information is available to you online at www.nslds.ed.gov.

What is the difference between a subsidized and an unsubsidized loan?
Subsidized loans are based on need. The federal government pays interest on these loans for you while you are in school. You are responsible for any interest that accrues on an unsubsidized loan.

How do I find out about loan forgiveness for teachers?
For more information about loan forgiveness for teachers, please visit this link at the Department of Education's Federal Student Aid website.