Federal Stafford Loans

The Stafford Loan is the most common of all federal student loans.  The “subsidized” loan is awarded when you have financial need; the “unsubsidized” loan is awarded if you do not have financial need, or if your need has already been met by other types of financial aid.

How to apply, step-by-step

Students enrolling for the first time in the fall of 2015 should not complete these steps until directed to do so, in the summer.

  1. Go to www.studentloans.gov
  2. Sign in using your Federal Student Aid PIN.
        •  Do not use your parent’s PIN or the PIN assigned by Lake Forest.
        •  Don’t know your PIN? Go to www.pin.ed.gov.
  3. (First-time borrowers only)  Complete Entrance Counseling.
  4. (All) Click on the Complete Master Promissory Note link.
  5. Click on Subsidized / Unsubsidized then complete/sign the MPN.
  6. When you are able to view and print the full MPN in .pdf format, you have completed the MPN.
  7. Print and save a copy for your records.
What Happens Next

The Office of Financial Aid will receive word that you have completed the Counseling and MPN.  After we certify the loan (confirm your eligibility) the loan funds will be sent to the College and applied to your tuition account.  You will receive a notice from the College’s Business Office when the funds have been applied to your account.

Is there a time limit on how long I can receive loans?

If you are a first-time borrower on or after July 1, 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. This time limit does not apply to Direct Unsubsidized Loans or Direct PLUS Loans. If this limit applies to you, you may not receive Direct Subsidized Loans for more than 150 percent of the published length of your program. This is called your “maximum eligibility period.” Your maximum eligibility period is generally based on the published length of your current program.



Adriana Rodriguez
Assistant Director of Financial Aid