Federal Stafford Loan
Students borrowing Federal Stafford Loans receive their funds from the federal government. However, you must request a loan through Whitman College. The request form for Stafford Loan is included in the student's financial aid offer packet or may be obtained by selecting Financial Aid Forms and clicking on the Stafford Loan Request form. If you're a dependent undergraduate student, each year you can borrow up to:
- $5,500 if you're a first-year student. No more than $3,500 of this amount can be in subsidized loans.
- $6,500 if you're a sophomore. No more than $4,500 of this amount can be in subsidized loans.
- $7,500 if you're a junior or senior. No more than $5,500 of this amount can be in subsidized loans.
The total possible loan debt for undergraduate study for dependent students is $31,000 and for independent students is $57,500 with a maximum of $23,000 in subsidized Loan.
Students must participate in entrance and exit counseling for a Federal Stafford Loan. This is generally done online via the Department of Education's website, StudentLoans.gov. A Master Promissory Note (MPN) attesting to the borrower's understanding of his or her rights and responsibilities as a Stafford Loan borrower must be signed by all first-time borrowers before the loan proceeds may be disbursed. The MPN may also be completed online at StudentLoans.gov.