Federal Stafford Loan
Students may be eligible to borrow under a Federal loan program called the Stafford Loan. The Stafford Loan is a low-interest long-term loan, guaranteed by the Department of Education that is used to go towards the cost of education. It is available to eligible students who are permanent residents and US citizens. Eligibility will be determined by the financial aid office after your family completes a Free Application for Federal Student Aid (FAFSA) and other necessary financial aid paper work. See what forms are required for your financial aid file.
Hamilton participates in the Stafford Loan under the Federal Family Education Loan Program (FFELP), which means an individual private lending institution disburses the Stafford Loan for our students. View our preferred lender list.
After Hamilton's Financial Aid Office determines your eligibility for a Stafford Loan you must complete the steps below in order to receive Stafford Loan funds:
- Complete a Hamilton College Stafford Loan Request form. This form informs our Financial Aid Office of the amount you are requesting to borrow, and your choice of lender. The form is on the reverse side of your Statement of Award letter, which you may have already signed and returned. If you have not returned the Statement of Award letter, you can print the Stafford Loan request form. Hamilton will not certify Stafford Loans prior to June 1, 2006 for incoming freshman. Stafford Loans for upperclass students will be certified after July 1, 2006. Please complete and mail to the Financial Aid Office.
- Complete an Entrance Interview. Federal regulations require first-time borrowers to complete an Entrance Interview. Please complete the interview on the Mapping Your Future Web Site. Funds will not be disbursed until this has been completed.
- Complete a Federal Stafford Loan Master Promissory Note: if you have followed the above steps, a Master Promissory Note (MPN) will be mailed from your lender to your home address. Please note, Federal regulations prohibit funds from being disbursed prior to ten days before classes begin.
