Stafford Loan Application

To receive a Federal Stafford loan at DCC, you must be able to answer YES to all of the following questions:

• Have you applied for federal financial aid through the FAFSA form?
• Has it been processed and results received at DCC?
• Has your financial aid award letter been sent to you for the 2008-2009 school year?
• Have you been awarded a Federal Stafford Loan for the 2008-2009 school year?

Stafford Loan Processing

If you are a first-time borrower you must fill-out, sign, and return a Master Promissory Note (MPN) and complete entrance counseling (all can be completed online).  

Please Note:  If you are a current borrower and using the same lender, you do not need to complete an MPN or entrance counseling.

If you have not previously borrowed a Stafford Loan, you must choose a lender (bank or credit union). You are free to borrow from any lender who participates in the Federal Family Education Loan Program (FFELP) Stafford Loan.  FASTChoice offers a Lender Comparison List to help you determine which loan is right for you by providing detailed information for various loans, as well as the terms and benefits offered by different lenders.  If you choose a lender not on the list contact the lender directly to determine your next step and contact our office to provide us with the lender contact information.

Once you have selected your lender, using FASTChoice, you will move on to complete your entrance counseling, and then your MPN online.

In order to complete and sign the on-line MPN, you will need the following information:

• Social Security number.
• Department of Education PIN. This is the same PIN used to sign the FAFSA form electronically.
• Award letter.
• Lender code, name.
• Driver's license number if applicable.
• Email address if applicable. If you want to receive a confirmation email, an address must be supplied.
• Your complete U.S. address including street or post office box, city, state, zip and phone if applicable; or your complete foreign address including street or post office box, city, postal code, phone number if applicable, and country.
• Two separate references with different U.S. addresses. The first reference should be a parent (if living) or legal guardian. You will need their name, address, city, state, zip code, and phone number if applicable. Business addresses cannot be accepted.

If you have any questions regarding the loan process, please contact the Montana Guaranteed Student Loan Program at 1-800-537-7508.