How to Apply for the Federal Stafford Loan

Step 1: Complete the 2009-2010 Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov to apply for the 2009-2010 academic year. Complete the 2008-2009 to apply for spring 2009 or summer 2009.   Make sure to enter LMU's school code, 001234, on your FAFSA.   

Step 2:  Accept the Federal Stafford Subsidized and/or Unsubsidized Loan from your financial aid award on PROWL via MYLMU.

Step 3:  Complete Loan Entrance Counseling via EDTEST.  This federally mandated requirement is for your understanding of the borrower rights and responsibilities when borrowing federal loans.  Your Stafford Loans will not be disbursed until this requirement has been successfully completed.

Step 4:  Complete the Online Master Promissory Note (MPN) with the lender of your choice.  Although you have already been approved by LMU to borrow a Federal Stafford Loan, you must complete the application process by selecting a lender, and completing that lender's application materials, which includes the MPN.  You will satisfy the MPN requirement by following your lender's application instructions.

You are not obligated to use the lenders listed on our Web site, and may borrow from any lender or credit union of your choice.  Please review each lenders' terms and conditions carefully before making a decision.  You will only need to complete this requirement once as a first-time borrower.  This lender will fund your loans for subsequent years unless you choose to borrow from a different lender at a later time.  You will then need to complete a new MPN with your new lender.

What's next?

The LMU Financial Aid Office will certify your Stafford Loan once we receive notice from your lender that an MPN was successfully completed, and the Entrance Counseling requirement is completed. 

For more important information regarding the loan payment process at LMU, please click here.