If the student has NEVER previously borrowed a Federal Stafford Loan through FAU, then the student MUST submit a Stafford Loan Requirements Checklist to the FAU Office of Student Financial Aid designating their preferred Federal Stafford Loan lender.
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Students who have received previous Federal Stafford Loans from FAU have previously selected a lender, therefore, are they NOT required to submit this form.
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LENDER INFORMATION FOR FAU'S ESTABLISHED LENDERS
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The FAU Office of Student Financial Aid can process a Federal Stafford Loan with any lender which participates in the Federal Family Education Loan Program. When selecting a lender, FAU advises students to compare lenders based on the total cost of the loan, incentives for on-time repayment, and efficiency/quality of service. As a starting point, FAU suggests the lenders here, as they all have established a track record of efficient loan processing and timely delivery of funds.
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FEDERAL STAFFORD LOAN FEES: Please be advised that, prior to disbursement, the loan amount listed on your account does not reflect loan fees deducted from your disbursement by your lender. Some lenders may charge loan fees up to 3% of your disbursement amount. This rate varies by lender and is subject to change. To illustrate, if you are scheduled to receive a $1,000 loan disbursement from a lender who assesses a 3% loan fee, the lender will send a net disbursement of only $970.00 to the school (the amount equating to 97% of $1,000).
