There are 3 steps to applying for the Federal Stafford Loan. If you are applying for a Federal Stafford Loan for the first time at Sacred Heart University, you will need to complete all 3 steps which will take approximately 25-30 minutes.Before you begin: you will need your FAFSA PIN* issued by the U. S. Department of Education and the name, address and phone numbers of two adult references (living in the United States) with different addresses.
*If you have lost or forgotten your FAFSA PIN, visit www.pin.ed.gov.
STEP 1: Electronically sign your Federal Stafford Loan Master Promissory Note (MPN). We have researched and come up with a list of lenders who not only provide the most competitive borrower benefits but also provide optimal service. We have detailed the benefits in the table below, please review before making your decision. Once you have chosen a lender simply click on the lender and follow the online instructions. If you would prefer to work with another lender or have borrowed in the past and would like to continue working with that lender, please contact our office for further instruction.
STEP 2: Complete your Federal Stafford Loan Entrance Interview online. This interview is a federal requirement and will inform you of your rights and responsibilities as a borrower under the Federal Stafford Loan program. Click on the link below and follow the instructions.
www.mapping-your-future.org
STEP 3: Complete your 2007-08 SHU Federal Stafford Loan Certification. To finalize the loan process you must complete and return the loan certification to the Office of Student Financial Assistance. You may download and print this document using the link below.
2007-08 SHU Federal Stafford Loan Certification
* Lender | Special Benefits/Incentives |
Connecticut Student Loan Foundation/Susie Mae
800-937-9721
Lender Code: 828614
Servicer: Ed Financial
www.cslf.com/shu/empn 
| Connecticut Student Loan Foundation/Susie Mae - 1% Origination Fee
- 1 % Default Fee
- 0.50% interest rate reduction during repayment when payments are made through automatic debit.
|
CitiBank
(800) 967-2400 Lender Code: 826878 Servicer: Citibank www.studentloan.com/schools/sacredheart/
| Citibank 1.5% Origination fees 1% Default (guarantee) fee 0.50% automatic interest rate reduction at repayment for all borrowers. 0.25% interest rate reduction when borrower signs up for auto debit payment program and agrees to only receive statements electroncially.
|
Wachovia
800-338-2243 Lender Code: 830005 Servicer: ACS
www.cslf.com/shu/empn
|
Wachovia Zero origination fees 1% Default (guarantee) fee 1% principal reduction after the first 12 payments are made on-time. 0.25% Interest rate reduction with automatic payment deduction from any bank account.
|
*Information is accurate as of 5/08, changes may occur with lender benefits. Please contact lenders directly to obtain "truth in lending information". All lenders listed have confirmed with the University in writing that they will disclose if the loan will be sold to another lender, that the loan terms and benefits will not change if the loan is sold to another lender and that the loan benefits may change if the borrower chooses to consolidate their loans.
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