Apply Now

Federal Stafford Student Loan Application Process

1. Student completes the FAFSA (Free Application for Federal Student Aid) and sends it to the U.S. Department of Education for processing. The FAFSA is available at www.fafsa.ed.gov
   
2. Results from the FAFSA are sent to the college Financial Aid Office of the student’s choice.
   
3. The student receives an Award Letter from the Financial Aid Office describing scholarships, grants, and loans that the student is eligible to receive.
   
4. To receive a Student Loan, the student selects a lender to fund his/her loan and completes a Federal Stafford Loan MPN (Master Promissory Note). Liberty Bank of Arkansas’ Lender Code: 174509 (Northeast Arkansas), 147509 (Northwest Arkansas).
   
5. The loan is processed by the Arkansas Student Loan Authority (ASLA) and funds are sent to the college Financial Aid Office.
   
6. Student receives funds to attend college!