Loan Application Process
Students
Students applying for a Federal Stafford Loan need to complete the following documents:
- FAFSA - If you received a Financial Aid Award Notice, then you already completed the FAFSA
The lender or guarantor will contact you regarding completion of the Master Promissory Note.
Students will receive notice from the lender's guaranty agency when the Stafford loan is approved. Since the loan funds are sent to JMU from an outside source, it can take several weeks for a student to receive these funds once all the appropriate application materials are submitted. The University Business Office will notify the student by electronic mail when the loan funds have been credited to the student account or that a check is ready for endorsement each semester. Students have 14 days from the time a Stafford loan has been credited to request it to be canceled.
Parents
Parents applying for a Federal PLUS Loan need to complete the following documents:
- FAFSA - If you received a notification of eligibility by mail, then you already completed the FAFSA
The lender or guarantor will contact you if you are required to complete a Master Promissory Note.