United States Federal Student Loans

Nova Scotia Agricultural College (NSAC) is recognized as a participant by the US Department of Education for the Stafford Loan, Parent Plus Loan and the Graduate Plus Loan Programs.  Our US Department of Education School Code is G0950400.

Section 1 - Types of US Federal Student Loans
Stafford Loans are federal student loans that support a university student’s overall educational expenses, including living expenses. Stafford Loans can be either subsidized or unsubsidized. Subsidized loans are the preferred option and have many benefits including:a lower fixed interest rate; deferral of payments while in school; no interest accrues while in school.  For more information visit the following websites:
http://www.staffordloan.com/
http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp?tab=funding

Parent Plus Loans are loans borrowed by parents on behalf of a dependent child to help pay the child’s overall educational expenses. Plus loans help fill the gap between any secured Stafford Loans/scholarships and the overall required need of the student. For more information visit the following website: http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp?tab=funding

Graduate Plus Loans are similar to Parent Plus Loans but are directly available to graduate and professional degree students to support their educational expenses. For more information visit the following website: http://studentaid.ed.gov/PORTALSWebApp/students/english/PlusLoansGradProfstudents.jsp

Section 2 - Steps to Apply

1. Complete a “Free Application for Federal Student Aid” (FASFA). See: www.fafsa.ed.gov
2. When completed download and print a copy of the Student Aid Report (SAR).
3. Contact a financial lender and a guaranty agency in your geographic area to assist with your loan application. They will provide you with the Stafford Master Promissory Note and/or Plus Loan Master Promissory Note.
4. Provide completed Stafford Master Promissory Note and/or Plus Loan Master Promissory Note and a copy of the SAR to the NSAC Financial Services Office. Ensure that the Lender’s complete address information is on all promissory notes.
5. The NSAC Financial Services Office will complete the Stafford Loan and/or Plus Loan Certification forms and send them to the Lender.  NOTE: It is the student’s responsibility to ensure that the Lender receives a complete copy of the ORIGINAL master promissory note(s).
6. The student’s loan cheques are sent to the NSAC. The cheques are usually co-payable to the borrower and NSAC.

Section 3 - Stafford Entrance and Exit Counseling
Students receiving Stafford loan funding for the first time are required to complete Stafford Entrance Counseling. Students who are graduating and who have received Stafford loan funding are required to complete Stafford Exit Counseling. Please use the following links:
Entrance Counseling: http://mappingyourfuture.org/oslc/
Exit Counseling:  http://mappingyourfuture.org/oslc/

If you have any questions please contact the NSAC Financial Services Office:
Financial Services
2nd Floor, Cumming Hall
62 Cumming Drive
PO BOX 550
Truro, NS B2N 5E3

Phone: 902-893-6602
E-mail: financialservices@nsac.ca

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