Stafford Prequalification Questions
To see if you qualify for a SelectChoice Student Loan, please complete the following questions.
Note: If you have already received a Stafford loan for the current school year and still need additional funds, please view our Parent Loan (PLUS) and our Private Loan programs.
1. Have you been accepted to a school?
Before you can apply for a Stafford Loan, you must be accepted to a qualifying school and have completed your Free Application For Federal Student Aid (FAFSA). If you need help with your school or FAFSA application, please feel free to call us at 800.504.7324.
2. Have you completed your FAFSA (Free Application for Federal Student Aid)?
Please Note: To sign your loan application electronically, you will need your Personal Identification Number from the Department of Education. If you need to verify your PIN, follow the links and instructions on the FAFSA website.
Notice to PIN Holders: PIN holders will need to go to the Federal PIN Registration site and register a challenge question and answer BEFORE they will be allowed to use their PIN for any transactions.
To be considered for any student Federal Aid, you must complete the FAFSA. The FAFSA application may seem intimidating, so feel free to call us at 800.504.7324 for assistance.
- You can complete the form online at FAFSA website.
- You can pick up a hard copy form at high school guidance offices or college financial aid offices.
- You can order a FAFSA form by calling 1.800.4FED.AID.
Please Note: To sign your loan application electronically, you will need your Personal Identification Number (PIN) from the Department of Education. If you need to verify your PIN, follow the links and instructions on the FAFSA website.
3. Have you registered for classes?
Please contact your school and register for classes. You must be registered for classes prior to filling out your Master Promissory Note (MPN). Filling out a MPN prior to class registration will delay the processing of your funds.
4. Have you received your Student Aid Report (SAR)?
Once your application is processed by FAFSA, both you and the school's financial aid office
will receive the SAR. Then you can complete your Master Promissory Note.
If you have not received you SAR within 3 weeks after submitting your application
online or within 6 weeks after submitting ahard copy application, you should check the
status online at www.fafsa.ed.gov or
call 800.4FED.AID. You may also want to call the school's financial aid office and see if
they have received their copy.
5. Have you applied for or received Stafford loans from any other lender for the current school year?
If you have already applied for or received a Stafford loan for the current year, and still need additional funds, please check out our Parent Loans and our Private Loans.
6. Have you completed a Master Promissory Note (MPN) with the Student Assistance Foundation in the past 10 years?
A MPN is valid for 10 years. To expedite the processing of your funds please email our Loan Origination Department or call us at 800.852.2761 ext 2887.
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