Direct Stafford Loans
The primary purpose of UAPB’s Financial Aid Office is to supply students, who would not otherwise be able to pursue a post-secondary education, with resources to help cover school expenses. The list provided below is to be used as an information guide for those applying for financial aid.
Completing the Free Application for Federal Student Aid (FAFSA)
Note: You will need your federal PIN number and a copy of your most recent tax return. After completing the web based FAFSA, please document the Confirmation Number you receive after transmitting your application.
To receive any kind of Federal Financial Aid, a student must:
Be enrolled as a regular student in an eligible program*
Not be in default on any Title IV loan or owe a refund on any Title IV aid
Not have a drug related conviction
Be a citizen or eligible non-citizen**
** Generally you are an eligible noncitizen if you are:
A U.S. permanent resident with a Permanent Resident Card (I551);
A conditional permanent resident (I-551C); or
The holder of an Arrival-Departure Record (I-94) from the Department of Homeland Security showing any of the following designations:
- “Asylum Granted,”
- “Parolee” (I-94 confirms paroled for a minimum)
For all unsubsidized Stafford loans first disbursed on or after July 1, 2011, the interest rate is fixed at 6.8 percent. The interest rate for subsidized Stafford loans first disbursed on or after July 1, 2011 is fixed at 3.4 percent. For Stafford Loans that are first disbursed on or after July 1, 2011, there is a fee of 1 percent of the loan, deducted proportionately from each loan disbursement.
To receive a Stafford Direct Loan:
Complete the FAFSA.
Complete the Stafford Master Promissory Note.
Complete Stafford Entrance Counseling.
Federal Direct Loan Exit Counseling
As required by federal regulation, all student Federal Direct Loan borrowers must complete Loan Exit Counseling when they graduate, withdraw, or cease to be enrolled at least a half-time at a college or university. The exit counseling informs a borrower of their rights, responsibilities, and terms of repayment of the loan. Exit counseling online may be accessed at www.nslds.ed.gov using the federal PIN used to complete the FAFSA. A loan counseling exit form may completed and returned to the Student Financial Services Office if it cannot be completed online. Complete Exit Counseling Online>>
Your federal student loans will be reported to, and tracked by, the National Student Loan Data System (NSLDS) which is accessible to you, guaranty agencies, eligible lenders, and eligible institutions of higher education as authorized users of NSLDS. Your access is through the use of your FAFSA PIN, at www.nslds.ed.gov