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 2008-09 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.   

2008-09 SHU Federal Stafford Loan Certification

* Lender	Special Benefits/Incentives
Chase 800-487-4404 Lender Code:  803000 Servicer:  Chase www.chasestudentloans.com	Chase 0% Default fee 1% Origination fee  0.25% Interest rate reduction with auto debit from bank account
Discover Student Loans 877-728-3030 Lender Code:  831312 Servicer:  Great Lakes Higher Education www.discoverstudentloans.com	Discover 0% Default fee 0% Origination fee 0.25% interest rate reduction with auto debit from bank account
Access Group 800-282-1550 Lender Code:  808851 Servicer:  Access Group www.accessgroup.org	Access Group 1% Default fee 1% Origiantion fee 0.25% interest rate reduction with auto debit from bank account
Wachovia  877-689-0763                              Lender Code:  830005                      Servicer:  ACS www.wachovia.com/stafford	Wachovia Zero origination fees   1% Default (guarantee) fee 0.25% Interest rate reduction with automatic payment from a bank account.
Citibank 800-967-2400 Lender Code:  826878 Servicer:  Citibank www.studentloan.com/schools/sacredheart/	Citibank 0% Default Fee 1% Origination Fee 0.25% interest rate reduction with auto debit from a bank account
Citizens Bank                              800-708-6684                           Lender Code:  812265          Servicer:  Sallie Mae www.salliemae.com/sacredheart	Citizens Bank Stafford Loan 1% Origination fee 1% Default (guarantee) fee 0.25% Interest rate reduction for automatic deduction from any bank account.
Bank of America 800-344-8382 Lender Code:  824421 Servicer:  Great Lakes Higher Education http://www.bankofamerica.com	Bank of America 1% Default fee 1% Origination fee 0.25% Interest rate reduction after first on-time payment with Bank of America deposit account, auto debit is not necessary
Wells Fargo 888-511-6364 Lender Code:  807176 Servicer:  Wells Fargo http://www.wellsfargo.com	Wells Fargo 1% Origination fee 1% Default fee
Connecticut Student Loan Foundation/Susie Mae                   800-237-9721                           Lender Code:  828614            Servicer:  Ed Financial http://www.cslf.com/shu/empn	Connecticut Student Loan Foundation/Susie Mae 1% Origination fee 1% Default fee 0.25% interest rate reduction during repayment when payments are made through automatic debit.

*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.   

Next Page

Font Size:  E-mail Page: Print Page: