How will I receive my Stafford student loan money?

You will not personally receive any Stafford student loan money. Instead, the Department of Education will provide the funds for your tuition straight to the college of your choice. When you apply for funding, you will be approved only for a loan large enough to cover the tuition costs of your current semester or term. The office of financial aid at your college will then supply information directly to the Stafford loan program, giving the Department of Education instructions for depositing the loan funds in your account. Once the government does this, your tuition is paid, and you will repay the loan according to your individual payment schedule.


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