Prospective Traditional Undergraduates

Types of Aid:
Grants and Scholarships | Student Employment | Financing Options

Federal Stafford Loans: How to Apply

Stafford loans are included on award letters for eligible students. Students must accept the full amount, accept a reduced amount, or decline the loans on myWeb. After accepting a Stafford loan, first time borrowers at DU are required to complete an entrance counseling session and a Master Promissory Note (MPN) with the FFEL lender of their choice.

Complete Entrance Counseling

Before you may receive a Federal Stafford Loan, you must complete an entrance counseling session. Entrance counseling will provide important information about your rights and responsibilities as a Stafford loan borrower. You may complete entrance counseling online at www.mappingyourfuture.org.

When you successfully complete online loan counseling, DU will be automatically notified. Please note that your loan funds will not be disbursed until you have successfully completed the entrance counseling requirement.

Select a Lender

Stafford loans are funded by private lenders, including banks and credit unions. The federal government sets the interest rate, limits on fees, and minimum deferment options for the loans. However, many lenders offer benefits to borrowers beyond the minimum requirements. We encourage you to carefully review your options before choosing a lender. Students may select any lender that participates in the FFEL program. To aid your search, the Office of Financial Aid provides a list of recommended FFELP lenders.

Complete a Master Promissory Note (MPN)

After selecting a lender, visit the lender's website to complete a Master Promissory Note (MPN.) This promissory note in most cases is valid for Stafford loans borrowed during your entire course of study at DU.

What Happens Next: Loan Processing, Disbursement, Refunds

After you complete an MPN, your lender will send a request to the school to certify your eligibility for the loan. Our office will certify the loan and send the information along to your lender. The lender will send you a Notice of Loan Guarantee and Disclosure, indicating the loan has been approved. Funds will disburse to your student account no earlier than ten days prior to the start of each term or within 7 to 10 business days depending upon when you apply for the loan. If your total financial aid for the term exceeds the charges on your student account, a refund may be issued to you within a few business days. Refunds are not available the same day loan funds are received by the University. Please visit the Bursar’s Office FAQ page for more information about refunds.