Who Determines Whether A stafford is given to the student? The Lender(bank) or The School?

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Who Determines Whether A stafford is given to the student? The Lender(bank) or The School?

A college junior at Touro wants to know if summer loans are given out?

2006-07-03 06:31:13 · 3 answers · asked by eb76web 2 in Education & Reference ➔ Financial Aid

3 answers

The federal government determines the regulations. The schools have their own policies and procedures. Ultimately a financial aid professional has the right (by law) to deny giving you a loan. A bank generally would never deny you for a Federal Stafford Loan because there is no credit check attached with this loan. The goverment guarantees this loan so there is no (or very, very little) risk to the bank.

2006-07-03 06:57:53 · answer #1 · answered by rachcoli 2 · 0⤊ 0⤋

The bank!

2006-07-03 06:34:59 · answer #2 · answered by Anonymous · 0⤊ 0⤋

the lender... the school just hooks it up

2006-07-03 06:34:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋