Stafford Loan Program
Federal Stafford Loans, both Unsubsidized and Subsidized, are available at Emerson College through the Federal Family Educational Loan Program (FFELP).
Only students with completed financial aid applications are eligible to apply for Stafford Loans. If you have not already received a Financial Assistance Statement listing your eligibility for a Stafford Loan from our office, please contact the Student Service Center to check on the status of your application.
There are two types of FFELP Stafford Loans: Subsidized Stafford loans are need-based, and the government pays the interest on these loans while the student is in school, during a six-month grace period immediately preceding repayment, and during authorized deferment. Unsubsidized Stafford loans are not need-based, and the student is responsible for all of the interest that accrues on the loan, including while in school. For all Undergraduate Subsidized Stafford loans disbursed on or after July 1, 2008, the federal interest rate for is fixed at 6.0 percent. For all Graduate students borrowing any Stafford Loan and Undergraduates borrowing an Unsubsidzed Stafford Loan disbursed on or after July 1, 2008, the federal interest rate is fixed at 6.8 percent. This change from a variable to a fixed interest rate does not affect a borrower's variable interest rate on loans made before July 1, 2006. For more information on the benefits of the FFELP program, please read our FAQ section.
New Students: Once you sign and return the Emerson College Financial Assistance Statement, you should complete the Master Promissory Note and Entrance Interview. If using one of Emerson's recommended lenders, you will be send instructions on how to complete these online. If you are using a different lender you should contact that lender to complete these items.
Returning Students: If you are a returning student and you have not borrowed a Stafford Loan during previous semesters, you will need to complete your Stafford Master Promissory Note & Entrance Interview. If you have borrowed a Stafford Loan at Emerson College in the past, you do not need to complete another Master Promissory Note and Entrance Interview.
If you have questions, specifically regarding your Stafford Loan or the Stafford Loan Promissory Note process send an e-mail to: studentloans@emerson.edu.
Stafford Loan Benefits
Here is information about our recommended Stafford Loan lenders to help you choose the one that is right for you.
2008-2009 Stafford Loan Benefits Information (PDF)
Students have the option to use a Stafford Loan lender of their choice. If you wish to utilize a different lender other than the ones listed on this page, please contact us for further assistance. You can also consult a lender of your choice or view a loan comparison website such as www.simpletuition.com
