Federal Stafford Loans
Federal guaranteed Stafford Direct Loans are available to Florida Tech undergraduate and graduate students who are U.S. citizens, or eligible non-citizens. Both undergraduate and graduate students must complete the FAFSA, be accepted by Florida Tech as a degree-seeking student, and be registered for at least half time status. All Florida Tech students must also accept their loan(s) on Florida Tech's Panther Access Web System (PAWS) website (see below).
In addition, new Florida Tech students must complete the loan Entrance Counseling session and electronically sign a Master Promissory Note on the Federal StudentLoans.gov website as indicated below. Students must complete all of these steps before their first loan disbursement can be deposited in their student account. (Note: The two StudentLoans.gov steps will not need to be repeated for future Stafford Direct Loans while attending Florida Tech.)
NOTE for first-time undergraduate borrowers: Beginning July 1, 2013, new federal regulations affect subsidized loans for first-time undergraduate borrowers. The changes significantly affect the periods when borrowers are eligible to receive a subsidized loan and when the government pays loan interest.
- Accept your Florida Tech Stafford Direct Loan:
- Logon to Access Florida Tech (http://access.fit.edu) with your TRACKS Username and Password.
- Select the Student Money tab.
- Click the PAWS hyperlink in the left column under "Money Links."
- Select the Financial Aid tab and then the menu item Award.
- On the Award menu, select Award for Aid Year, choose the applicable Aid Year and Submit.
- Select the Accept Award Offer tab and follow the instructions to accept your loan
- Logon to the Federal Department of Education website: https://studentloans.gov/
- Complete the Entrance Counseling session
- Complete a Master Promissory Note (MPN) for your Direct Loan
To help prepare for completing Loan Counseling and the new Federal Direct Loan MPN, you may want to download our tutorial about StudentLoans.gov: New Requirements for Federal Direct Loan
Additional information is available on the Department of Education Direct Loans web page. The new changes affecting subsidized loans may not be posted until closer to the beginning of fall semester.