I know you have to fill out the FASFA for a stafford loan... I thought the schools automatically offered them.. now I'm thinking I was wrong? Do you apply for stafford loans through a bank? Can you apply for one for half time enrollment for the summer? (for a study abroad)

If so, which lenders are the best to go to?

ARE THEY HARD TO GET?

After you fill out the FAFSA with the school codes, the information is processed and eventually the school/s you applied for will get the information. Based on your EFC (expected family contribution) your school will grant you money accordingly. If you receive no grants or not enought "free money", you will be able to apply for the Stafford loans. Typically *99% of the time* your school will guide you on the whole process of getting the Staffords from initially accepting them to picking virtually any lender from Chase to Wells Fargo. You can borrow up to the maximum limit for your grade level each year. As for study abroad, you could request the full amount or difference (which may be unsubsidized, meaning the interest accrues while you are in school). That means, based on your classification, you could receive anywhere between roughly 5-7k in Staffords for a summer session. I am a current student and planning on doing something of the same nature next year.

so to answer: they are not hard to get and every lender is pretty much the same because they all have to follow the same federal interest rates which is around 6% right now and goes down next year.

It's very simple. All you do is fill out the FAFSA, then have it forwarded to your school. You can either do the FAFSA by mail or online, but it does take some time to get your PIN in the mail if you do it online. Your school will then award you with grants and/or Stafford loans. The schools usually already have lenders lined up so you don't need to shop for any. You could change lenders if you want, but it just means you have to take extra steps.

The good thing is that by filling out the FAFSA, you'll automatically get awarded grants first if you qualify for any. Then you get awarded Stafford loans based on your income (not your credit). Some of the loans are subsidized, which means the government pays the interest for you while you're still in school. Yes, you can get awarded money for the summer.

called my school and asked about them. Seems my school is a direct lenders of stafford loans, and I'm already maxed out.

Sigh

if you haven't already, have your parent sign up for the Parent PLUS loan and if they perhaps get turned down, you are eligible for an additional *roughly* 3k in unsub loans.. that's if your parents are willing or ready to have an inquiry on there report