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Just registered on your site. Thanks for all of this. This info comes to me right when I'm about at wit's end with my financial situation. Since you appear to still be answering questions here, I would like to explain my own situation and see if I can get some answers from you...noone else is giving me any. I will be attending grad school abroad next year. I already made sure the school is Title IV eligible, and filled out a FAFSA. Got my SAR and sent a copy to the school since I was told that they wouldn't get it in e-mail form. Here's where things get confusing. Cambridge says that I need to send them the Master Promissory note or notes and School Certifications for any loans that I'm awarded, but the US government has informed me that I cannot actually apply for Stafford loans (and maybe? GradPLUS) until I hear back from the school about how much I am being awarded and from what lender that money is coming. Cambridge says that it's now my responsibility to apply for loans, and that they have nothing more to do with the process. So how am I supposed to apply for these federal loans? What lenders are going to be federal aid lenders? How do I know? How do I get the MPN and School Certification? I was always under the impression that the school got the SAR and then in a week or two sent you back a letter saying "Here is the money that will be awarded to you," but Cambridge keeps telling me that I'm misinformed, and apparently my government is as well. I keep being told that I need to send Cambridge all of this stuff, but noone is telling me how I get it! I'm going to need about $50k in loans for next year, and I'm starting to get pretty worried that I won't have time to apply for and get them. I can't find on any site links to where I go to apply for Stafford or GradPLUS loans, the federal aid website just seems to give vague information. Please help!
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May 22, 2007 12:30
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So after spending some quality time on the phone with som guy at 1-800-4-FED-AID this afternoon, I think I finally got some answers. The people at that number are friendly as all hell, by the way. I was surprised to not be put off and frustrated. Apparently only SOME schools outside the US function the way we would expect them to. Cambridge isn't one of them. If the school is not set up to recieve the SAR electronically, that apparently means that they don't have to follow the rest of the standard procedure either. I guess it's school dependant and each international university has its own set of criteria for the loan application process. So I DO have to seek out a lender on my own and apply to the directly because Cambridge's administration is apparently archaic. This isn't actually going to affect my interest rate, deferment while enrolled, or anything else, will it? And, though you have probably mentioned it earlier, are there any particular lenders that you would recommend that will definitely lend to a US student studying in the UK? Thanks again for all of your help!
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May 23, 2007 02:36
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Sensitive Scam Artist posted:So I'm sure that you got tons of information from the FAFSA guy today, but I also wanted to pass along a website that I ran across while trying to get Stafford loans overseas. The University of Winchester has a great overview of the process when dealing with a school that doesn't accept an electronic SAR. They have the forms in easily downloaded files, and seem to be a pretty good source. That site is incredibly helpful - thank you so much for the link. My Masters degree may not be in jeapordy after all! 
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May 23, 2007 03:21
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