FAFSA / Federal Stafford Loan / Fedral PLUS Loan?

Question

Can you apply for 3 at the same time?

Answer 1

No, you can't. You must first submit your FAFSA. Your school will then use those results to determine your eligibility for Federal Student Aid, which includes grants (like Pell) and loans (like Stafford and PLUS).

You could say that, in some ways, the FAFSA *is* your application for a Stafford Loan. Most schools who participate in the FFELP or Direct Loan programs will offer you a Stafford Loan shortly after receiving your FAFSA results. Almost every FAFSA applicant is eligible for some sort of Stafford loan, but your school needs your FAFSA results to determine whether your Stafford loan will be subsidized or unsubsidized (or a combination of both).

There will be additional paperwork that you will need to complete after you are offered and accept the Stafford Loan. Specifically, you will need to submit a Promissory Note to whatever lender you choose and your school will need to certify (i.e. sign off on) the loan amount, type, disbursement dates etc. If you are a first time, first year borrower, you will also need to complete "Entrance Counseling" (which, at many schools, is done online or in a large group infosession at the start of school).

PLUS loans are generally not awarded up front as part of a student's financial aid package. You will need to actively apply for these loans, through a lender that you choose (if you don't have a lender in mind, feel free to check with your school for recommendations). The application process for PLUS loans is usually fairly quick. Keep in mind that your school will need to certify this loan and that the money will be sent to the school and applied directly to your student account. Because the Application-Certification-Disbursement process is a multi-step process, it is in your best interest to track the progress of your loan. If it seems to be hung up on the "certification" part, give your school a quick call to tell them that you have a loan pending certification and ask if they need anything from you.

I know it can be a little complicated to try to cull funding from multiple sources, but I assure you that, once you've done it the first time, subsequent years will seem a lot simpler.

Answer 2

Well you need to apply for a FAFSA first to qualify for Stafford or PLUS loans. If you are a student who has a child in school you can apply for a Stafford for yourself and a PLUS for your child otherwise you can apply for a Stafford and if you are dependent per the FAFSA your parents can apply for the PLUS. If you are an independent undergrad you are not eligible for the PLUS but as a graduate student you can take out a gradPLUS on top of the Stafford loan.

Answer 3

Not with one document you can't. You can complete the FAFSA and request a Stafford loan. If your school partipates in direct lending, you'll later need to sign a prommisory note for them. If they do not, you'll need an application from a lender.

The PLUS is seperate. You'll need to contact a lender and have your parents complete the application.

Answer 4

Sure!

Answer 5

I don't know.