Federal Stafford loan

Students must complete the Free Application for Federal Student Aid (FAFSA). See Apply for aid. Bluffton University will award your maximum eligibility for Federal Stafford Loans and automatically process the loan(s) for you. If you do not wish to borrow a student loan, please contact our office and we will cancel the loan immediately.

 

If you are a first-time student or if you have never borrowed a student loan while attending Bluffton University, you will need to complete Entrance Loan Counseling. (See Apply for aid, Step 5.) The Entrance Loan Counseling session will give you valuable information regarding your rights and responsibilities as a student loan borrower and this must be completed before any loan funds can be disbursed.

 

Also, if you are a first-time borrower, you will need to complete a Master Promissory Note (MPN). When completing your Master Promissory Note, you will need to choose a lender. See Apply for aid, Step 5.  The lenders and loan options presented when completing your Master Promissory Note have been selected for the excellent terms and benefits they provide to borrowers. Our institution has worked with these lenders in the past, and previous borrowers had positive experiences working with them.  To determine which lenders and loan options to present, we use strict criteria based on your interests and not those of our institution. We recognize only those lenders who provide you with exceptional customer service, excellent incentives (e.g., low interest rates, no origination fees, and loan principal reductions), timely processing, and electronic funds transfer capabilities when possible.  All of the information provided on the Loan Options page is reviewed annually to ensure that the benefits that lenders offer continue to adhere to our criteria. Any loan options that no longer adhere to our criteria are removed, and new loan options that meet our criteria are added. At least three lenders will be presented to you at all times. You are free to select any lender and loan option, including those not presented. If you choose a loan option that is not presented, please contact our office for instructions to complete the application process. Application processing will not be delayed unnecessarily if you choose a loan option not presented. We maintain professional relationships with all lenders. Our officials are prohibited from accepting financial or other benefits in exchange for displaying lenders and loan options. These include: receiving compensation to serve on any lender board of directors or advisory boards; accepting gifts including trips, meals and entertainment; allowing lenders to staff our institution's financial aid office; allowing lenders to place our institution's name or logo on any of their products; and owning lenders' stock (for those college officials who make loan decisions for our institution).

 

Please use our FastChoice tool to view each lender and their borrower benefits.

 

No funds will be disbursed until the MPN has been completed. Don't forget that you must be enrolled for a minimum of six credit hours each semester in which you wish to borrow a Stafford loan.