Stafford Loans

There are two federally guaranteed undergraduate loans, Federal Stafford Subsidized and Federal Stafford Unsubsidized.  These loans are available to students as need based aid.  Need is determined by completing the Free Application for Federal Student Aid (FASFA).

Federal Stafford Subsidized Loan
  • The government will pay the interest accrued while you are in school.
  • Loans first disbursed after 7/1/2008 will be a fixed 6.0% interest rate.
Federal Stafford Unsubsidized Loan
  • You are responsible for the interest accrued while you are in school.
  • Loans first disbursed after 7/1/2006 will be a fixed 6.8% interest rate.
Instructions:
Each school has a different application process for the Federal Stafford Loan.  Here are the basic steps in applying. 
  1. Complete the Free Application for Federal Student Aid (FAFSA).
  2. A Student Aid Report will be sent to you by the Department of Education, also known as the "Award" letter.
  3. Once your award letter is received, contact your college Financial Aid Office to certify your awarded financial aid programs and to see if additional paperwork needs to be completed.
  4. Accept your financial aid award and complete the necessary student loan documents, selecting TexasBank as your student loan lender using Lender code: 821016.
  5. Complete the Stafford Master Promissory Note (MPN) (printable version) or via e-sign: Electronically Sign (this is a secure site and requires your FAFSA pin# to complete the e-sign MPN).
  6. Complete your entrance counseling.
  7. The funds will be sent to the school on the scheduled disbursement date.
Click here for our esignature process.
Click here for our plus pre-approval process.
Click here for our grad plus pre-approval process.
When applying for your student loan, remember to use Lender code: 821016, selecting TexasBank as your lender.