Undergraduate Federal Direct Stafford Loan Information (Academic Year 2011-12)

The following is provided to help you make the most appropriate decision regarding the amount you need to borrow. If your borrowing period involves any term other than the normal academic year, be aware that borrowing more than half of your eligibility during the first term can affect the amount you are eligible to receive in the second term.

Four Steps to Process Your Loan

Complete a Free Application for Federal Student Aid (FAFSA).
Thoroughly complete and submit the Federal Direct Stafford Loan Request Form for the Academic Year 2011-12.
Submit this form to the Office of Scholarshisp and Financial Aid (OSFA) and complete the First-time Borrower Requirements* if applicable.
The OSFA will process your loan.

*First-time Borrower Requirements

Master Promissory Note Requirement
The Federal Direct Stafford Loan program requires all first-time borrowers to complete a Master Promissory Note. You may complete an electronic Master Promissory Note on the Web by using your PIN at www.bsu.edu/finaid, then click on Fill Out Your Master Promissory Note.

Loan Counseling Requirement
Federal Direct Stafford Loan program regulations require all first-time borrowers to complete a loan counseling session before these funds can be released. This requirement may be completed on the web at www.bsu.edu/finaid. Then click on Take Loan Entrance Counseling and follow the directions through the entire site.

Loan Maximums Based on Student Status

Federal regulations require that you be enrolled for at least 6 hours undergraduate per semester to receive these funds. The maximums listed for each grade level apply to any two consecutive terms (i.e., summer/fall, fall/spring, spring/summer).

Undergraduate Students:

Credit Hours Earned	Dependent	Independent
0-29 (Freshman)	$ 5,500	$ 9,500
30-62 (Sophomore)	$ 6,500	$10,500
63+ (Junior)	$ 7,500	$12,500
Cumulative Maximum	$31,000	$57,500

Second Undergraduate and Licensing Students:

Maximums based on the number of hours the school counts toward satisfying the requirements of the student's program OR
Maximums based on the number of hours the student is required to earn to complete the program.

You may not be able to borrow the maximum as a result of previous borrowing, other aid received, and your estimated cost of attendance.

Completing the Loan Request Form

You may only complete a loan request form if you are currently registered as a Ball State student. If you are a student and do not have a Ball State computer user name, it is easy to obtain one or have its associated password reset. Bring a valid picture ID to the Technology HelpDesk in Bracken Library (BL), room 101. You will be given your user name and/or password while you wait. The process takes about five minutes to complete.

The information desk staff cannot perform password resets over the phone, nor can they reset passwords when a password does not match that of the ID holder.

To proceed and complete an online Undergraduate Federal Direct Stafford Loan Request Form for the Academic Year 2011-12, click here.