Changing Stafford Loan Providers

In a recent staff meeting, we discussed the issue of freedom of choice and the Stafford Federal Student Loan.

When you, as a first year student, signed the promissory note for the Stafford Federal Student Loan, you may have signed what's called a Master Promissory Note, which is essentially a four year loan application. As you may know, recent events in the student loan world have highlighted the very important face that students, parents, and families have a right to choose when it comes to federal student loan providers.

Thus, if you would like to use StaffordLoan.com and the Student Loan Network as your provider of the Stafford Loan, you have the right to do so. Fill out and complete an application on StaffordLoan.com and then speak with your financial aid administrator. Let them know that you would like to switch loan providers for your Stafford Loan, and when your application from the Student Loan Network arrives in the office, to please certify it and cancel the old master promissory note.

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