Federal Stafford Loan Qualifications/Requirements

A student who plans to apply for a federal government-sponsored student financing, like the Stafford loan, should meet the eligibility requirements. Before you submit your online application to the FAFSA, check first if you have the following qualifications that the loan requires:

  • The applicant must be a US citizen or a national, a resident of permanent status, or an eligible non-citizen of the country. Non-citizen or non-national must show proofs of legal documents issued by the Immigration and Naturalization Services.

  • The applicant must have completed his or her secondary school education and has been awarded a high school diploma or a recognized educational certification equivalent to a high school diploma that is approved by the Department of Education.

  • The applicant must have a valid Social Security Number.

  • The applicant must be a registered student in a qualified school and is enrolled or plans to enroll at least half time in a college degree or graduate program, which is eligible to receive funds from the Federal Stafford loans. For enrolled students, they must maintain a satisfactory academic performance based on the standards applied by the school.

  • The applicant  must be able to demonstrate an exceptional financial need. The Expected Family Contribution (EFC) that they reported will be evaluated. The EFC is the figure that shows the family's income and expenses and is used to analyze the borrower's qualification to avail the loan subsidy. Eligibility for a subsidized grant will be determined by the school.

  • The applicant must not owe a repayment on any federal student aid grant or must not have a defaulted government-guaranteed student loans. For borrowers with defaulted status, they must repay their loans, or make payment arrangements to pay off their debts before the applicants can be awarded a Stafford loan.

  • The applicant must not have acquired other types of student loans in a fraudulent manner. Borrowers who provide false information on their application will be denied and may no longer be given the chance to avail any federal student loan.

  • The applicant must not be convicted of any crime for the use of prohibited drugs, or jailed within periods the loan is served.

  • The applicant must not be engaged in a medical internship or residency program, except for cases where the internship practice is required and is a part of the degree program the student is enrolled in.

  • The applicant must choose his or her preferred lender. Student borrowers are also required to submit a complete Master Promissory Note to their loan providers.

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