Stafford Loan Eligibility Requirements

There are escalating levels of eligibility requirements for participating in the Stafford Loan program and they can get pretty complex without some help from people who understand how it all works. Fortunately, we're those "people" so let's get started.

Requirements 101

Before you can even THINK about applying for a Stafford Loan you must meet these basic eligibility requirements:

1. You must be a "regular" student. This simply means that you are enrolled in an accredited college in an attempt to earn a degree, certificate, or other recognized educational credential which is offered by the school.
   
2. You need not be a full time student but you must be enrolled at least half time. The definition of "half time" varies between schools but we've covered the major definitions in our Stafford Loan FAQ so you can check there.
   
3. You must never have been convicted of a state or federal drug violation nor can you be currently incarcerated for any offense.

Once you've determined that you meet these basic eligibility requirements you're ready to move on and tackle the more complex issues of having proper documentation, being a U.S. citizen or eligible non-citizen, being in compliance with the Selective Service laws, making satisfactory academic progress as well as other little requirements that they throw out there to keep you on your toes. Don't worry though. We know the ropes and we won't leave you hanging!

Naturally you're probably wondering how much money you're eligible to borrow, what the repayment terms are and what it will cost you to borrow. Click here and we'll tell you all about that plus details about income guidelines and a way to simply ignore them!