Federal School Code: 003425
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A subsidized Stafford Loan is awarded on the basis of financial need. You will not be charged interest on the loan before you begin repayment. The federal government "subsidizes" the interest on these loans.

An unsubsidized Stafford Loan is not awarded on the basis of financial need. You will be charged interest on the loan from the time of the first disbursement until it is paid in full. If you allow the interest to accrue (accumulate) while you are in school (or during other periods of nonpayment), it will be capitalized. This means the interest will be added to the original principal amount of your loan, and additional interest will be based on the higher amount. Making interest only payments while in school will result in a lower amount repaid in the long run.

How to Apply for a Stafford Loan

The FAFSA is required for both subsidized and unsubsidized Stafford Loans. If you answer "yes" to question 31 on the FAFSA (In addition to grants, are you interested in student loans...), we will automatically determine your eligibility and process a Stafford Loan for you. We will first process the maximum subsidized eligibility and then unsubsidized.

If we have processed a Stafford loan on your behalf in a previous term, we will automatically process your new loan with the same lender. However, if this is your first loan at Clemson, we will determine your eligibility. Then you will complete and submit a loan application and master promissory note directly to your lender of choice. The lender will notify us that you have made application after all required information has been received.

 

If you did not indicate an interest in student loans on the FAFSA, or if you have not selected a lender, you may initiate the process by clicking here, select a lender and complete the lender's application.

Promissory Notes

An electronic loan application will be created and transmitted to your lender. First-time borrowers will be directed to select a lender and complete a promissory note to sign and return (most lenders also provide a mechanism to complete the promissory note online). If you previously received Stafford Loan funds at Clemson University, you will not need to sign a new note as your original note is a Master Promissory Note (MPN) that is valid for future disbursements. The loan is not finalized until the lender possesses a valid promissory note. The promissory note is a legal, binding document whereby you agree to repay the loan.

Changing Loan Amounts

You are encouraged to only borrow needed funds. If the loan approval is more than you desire, you may reduce the amount by calling the Financial Aid Office at 864-656-2280, emailing the Financial Aid Office at finaid@clemson.edu, or following the directions provided by the lender on the disclosure statement you receive.

Paper Stafford Loan Applications

If you prefer to not use the electronic loan process, you may obtain a paper loan application from your lender of choice and submit it directly to your lender for processing. The lender will notify us that you have made an application once all required information has been received. Please note that it generally takes longer to process a paper application.

Attendance at Prior Institutions

We strongly encourage students who have borrowed through the Stafford Loan program at other institutions prior to attendance at Clemson to retain their previous lenders. This will avoid making multiple loan repayments in the future. Note: Clemson University does not participate in the Federal Direct Loan Program.

Additional Stafford Loan Information

 

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