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Important Information About My Stafford Loan
How do I apply for a Stafford Loan?
Your financial aid Letter will have specific instructions on how
to apply for a Stafford Loan.
I signed a Stafford Master Prom Note (MPN) at La Salle,
do I have to reapply this year?
NO. The MPN is good for your entire academic career at La Salle.
Please check your award letter for further instructions. Remember
to look at the Stafford loan amount on the award letter and notify
the Office of Student Financial Services of any changes.
I am a new student at La Salle, how do I apply for a Stafford
Loan?
You will receive a letter with instructions from Sallie Mae regarding electronically signing (esign) your precertified Stafford Master Promissory Note (MPN) from AMS/Sallie Mae.
Why AMS/Sallie Mae?
AMS is one of the top student loan lenders in the country with
loan origination approaching $2 billion dollars. Not only will
AMS provide superior service for you, but it will provide the
following discounts as well:
- No origination fee
- 2% of loan credit after the first payment is made as initially
scheduled
- Additional 3.5% loan credit after the first 24 payments are
made as initially scheduled
- .3% interest rate reduction for automatic debt of monthly payments
To qualify, borrowers also need to sign up on Sallie Mae's Manage
Your Loans (www.manageyourloans.com)
before repayment to receive account information by e-mail.
What if I do not want to use Sallie Mae as a lender?
Students have the right to choose their own lenders. Please contact
us for instructions as to how to apply for a Stafford Loan through
another lender.
I have been notified that I have to do an entrance interview?
What is that?
The Department of Education requires that all new borrowers complete
an entrance interview. You will complete your Entrance Interview
at the same time as your are esigning your MPN unless you have
already completed your Entrance Interview previously. Your Stafford
Loan funds will not be credited to your account until this process
is complete.
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