Financial Aid Services

Federal Loans:

Subsidized Stafford Loan: This loan is based on need. The government pays interest while student is in school. Six months after graduation payments begins. Fixed rate of 6.8% for loans first disbursed on or after July 1,2006.

Unsubsidized Stafford Loan: This loan is not need based. Interest accrues while student is in school. Six months after graduation payment begins.

Graduate Plus Loan: This loan offers additional funding for graduate student seeking loans beyond Satfford subsidized and unsubsidized loan programs. Fixed rate at 8.5% for loans first disbursed on or after July 1,2006. The borrower pays all interest. Six months after graduation payments begins.

The following steps will help you to apply and obtain Federal Financial Aid:

1. Read
   The Student Financial Aid Handbook located under links. This is a regulation required by the U.S. Department of Education. This has important information regarding your financial aid.
2. Prepare
   Have all documentation available. You will need income tax returns, W-2 Forms, etc. The sites you will visit should have lists of required documentation.
3. Apply
   1. Go to PIN site. Obtain PIN number from this site and remember it. You will need it to sign your FAFSA application.
   2. Go to FAFSA site to apply for federal financial aid. Use PIN number to electronically sign your application. The site is self explanatory.
   3. Receive copy via email of your student report.
   4. Go to the Wolford College Virtual Financial Aid (vfao) office:
      1. Register.
      2. Login to site. You Must complete the entrance interview.
      3. Go to Direct Loans to sign your master promissory note for Subsidized and Unsubsidized Stafford Loans. If you are applying for The Federal Direct Plus loan you will need an additional Master Promissory Note.
      4. Submit any documentation requested.
      5. Monitor progress by login on Wolford College VFAO and going to Student Interview Center, then Student Financial Aid Status Report.