Fall 2012/Spring 2013 Stafford Loan Acceptance Agreement
Complete, print, and return completed form to:
Office of Financial Aid
Box 93260 MSU
Lake Charles LA, 70609
Phone: (337) 475-5065
Fax: (337) 475-5068
Subsidized Stafford Loan
The U.S. Department of Education pays the interest for a Federal Subsidized Stafford Loan while the borrower is in school and during grace and deferment periods; you must be at least a half-time student. Interest rates can change yearly, check with the Office of Financial Aid for rates. Repayment of the principal and interest begins 6 months after the student ceases to be enrolled at least half time.
Unsubsidized Stafford Loan
On an Unsubsidized Stafford Loan, the borrower is responsible for interest during the life of the loan; you must be at least a half-time student. The interest can either be paid monthly or quarterly, or be capitalized (added to the loan principal), which increases the total repayment amount. The interest rate can change yearly, so check with the Office of Financial Aid for rates. Repayment of the principal and interest begins 6 months after the student ceases to be enrolled at least half time.
How to claim you award
All financial aid recipients must sign a financial aid authorization each semester to authorize the Business Office to use the financial aid awards to assist in covering expenses. A financial aid authorization must be signed even if you have a zero balance on your statement of account.
Federal Subsidized Stafford/Unsubsidized Stafford Loan
First-time borrowers must complete entrance loan counseling on the Internet.
All borrowers must sign the Loan Acceptance Agreement Form and return it to the Financial Aid Office.
All borrowers must have a signed Master Promissory Note on file with the U.S. Department of Education. Please visit the McNeese
Financial Aid web site, click on the Stafford Loan Information link and next click on E-sign for Master
Promissory Note (MPN).
If you will be receiving a paper check, it must be endorsed at the Business Office prior to a refund check being processed.
Funds received electronically will be refunded by mail through the Business Office.
Entering freshmen have 30 days before money can be disbursed.
Note: The Business Office will process refund checks for all financial aid awards that have been disbursed to student accounts and have a credit balance. The Business office will mail a check for the remaining balance to the student's mailing address which is on file at the MSU Registrar's Office.