Applying for a Stafford Loan doesn't need to be difficult. Just follow these steps:

1. Before applying, make sure you meet these basic requirements:

• You are a U.S. citizen or permanent resident.
• You are enrolled at least half-time at an eligible institution.
• You are not in default on a student loan.
• You do not owe a refund on a Title IV grant.

2. Complete and submit the FAFSA (Free Application for Federal Student Aid). Go to www.fafsa.ed.gov to complete the online form or order your paper copy. This is your main application to be eligible for government grants, loans and work study. Each school year you wish to receive financial aid, the FASFA needs to be completed. Note: If the site you are on asks for your credit card or is going to charge you a fee to complete the form, you are on the wrong site.

3. In response to your FAFSA, your school's financial aid office will receive your Student Aid Report (SAR) from the federal government. This will determine your financial aid eligibility.

4. The financial aid office will forward an award letter to you. The award letter is a summary of the financial aid you are eligible for at the school. Typically the school will want your confirmation that you accepted the loan award. Each school has its own way of getting the confirmation. The instructions should be included with the award letter on how to confirm your awards. Depending on the school's financial aid office, PLUS loans may or may not be listed on the award letter. If the award letter does not have the PLUS loan listed, it is up to the parent to contact the financial aid office to request the PLUS loan. The school may have an additional form to be completed with a PLUS loan request

5. If you have accepted a Stafford loan or requested a PLUS loan, you will need to complete a Master Promissory Note (MPN). The MPN will be where you select your lender. The MPN can be completed either online through the school's financial aid Web page or a paper version can be completed.

• The paper MPN will have boxes asking for Lender Name and Lender Code. List AnchorBank and our lender code, 823011, to select us as your Stafford or PLUS loan lender. Complete the rest of the MPN and send it directly to Great Lakes Higher Education or to AnchorBank's Student Lending Office in Madison, WI.
• Most schools now have an online MPN available. You will need a FASFA PIN to complete the online MPN. The online MPN will have a drop down box with a list of the school's preferred lenders. Simply click on AnchorBank and we will be the lender.

NOTE: If AnchorBank is not a preferred lender at your school, and you would like AnchorBank to be your lender, please contact the Student Lending Office at 1-800-236-8769 or 608-252-8769. Depending on the school, you may have to complete a paper master promissory note (MPN).

6. Your school will certify the amount and type of loans that you are eligible to receive. AnchorBank will in turn fund Great Lakes Higher Education Corporation with your loan proceeds. Loan proceeds are only disbursed on the date selected by the school. These proceeds are then directly disbursed to the school you attend, usually via an electronic funds transfer. Occasionally a paper check is still sent to the school. Great Lakes Higher Education Corporation is both the guarantor and service agency for your student loans with AnchorBank.

That's all there is to it. If you have questions on this process, please contact us. We'll be glad to help.