How to apply for a Federal Stafford Loan

Apply for financial aid if you have not already done so.

All Stafford Loan Borrowers

For 2013-2014: Go to our.crown.edu. Enter your crown network username and password to login. Select the students tab and then Financial Services. Complete the Stafford Loan Request Form.

New Stafford Loan Borrowers: Go to www.studentloans.gov. Sign in using your Department of Education PIN (the same PIN you used to sign the FAFSA and complete the following:

  • Master Promissory Note (MPN)
  • Entrance Counseling

If you do not have a PIN or have lost your PIN you may obtain one by visiting www.pin.ed.gov.

Crown does not provide early disbursement.

Interest Rates

Stafford Loans have a fixed interest rate for the life of the loan. The anticipated interest rate for Subsidized Stafford Loans for 2014-15 is 4.66%. The anticipated interest rate for Unsubsidized Stafford loans for 2014-15 is 4.66%

Loan Fees

The fee for Direct Subsidized and Unsubsidized Loans is 1.072%. Loan funds (less the fees) are disbursed directly to the student's Crown College account and split evenly between the terms of enrollment.

Direct Loan Information

For additional Direct Subsidized and Unsubsidized loan information visit the U.S. Department of Education's Federal Student Aid website at: http://studentaid.ed.gov/types/loans/subsidized-unsubsidized

Direct Subsidized and Unsubsidized Stafford Loan

The Federal Direct Stafford Loan program provides low interest loans.  The lender for the Stafford Loan Programs is the U.S. Department of Education. 

Features

  • Direct Subsidized Stafford: This loan is need based. If you will be borrowing a Stafford Loan, you should borrow through this program first. The Federal government pays the interest while the student is enrolled in school at least half-time.
  • Direct Unsubsidized Stafford:  This loan is not need-based. Interest accrues while the student is enrolled in school and during the six month grace period.  Students may pay interest while enrolled or capitalize the interest which has accrued at repayment. Half-time enrollment is required for this loan. 

Maximum Annual Loan Limits

Annual Loan Limits for Dependent Students  
First Year $5,500. No more than $3,500 of this amount may be subsidized
Second Year $6,500. No more than $4,500 of this amount may be subsidized
Third and Fourth Years $7,500. No more than $5,500 of this amount may be subsidized
Cumulative Maximum $31,000. No more than $23,000 of this amount may be subsidized
Annual Loan Limits for Independent Students  
First Year $9,500. No more than $3,500 of this amount may be subsidized
Second Year $10,500. No more than $4,500 of this amount may be subsidized
Third and Fourth Years $12,500. No more than $5,500 of this amount may be subsidized
Cumulative Maximum $57,500. No more than $23,000 of this amount may be subsidized
Graduate and Professional Graduate students may borrow Unsubsidized Stafford loan up to the cost of attendance as determinied by the school. Not to exceed $20,500. Maximum debt - $138,500 (includes Stafford Loans received for undergraduate study).

*Please note that this chart shows maximum amounts students may receive. The amount you qualify to borrow may be less depending on your cost of attendance, financial need and other financial assistance.