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Federal Stafford Loan

The Stafford loan is a need-based loan. There are two types of Stafford loans, subsidized and unsubsidized. The federal government pays the interest while borrower is in-school, in-grace, or any authorized period of deferment for the subsidized loan. The borrower is immediately responsible for the interest for the unsubsidized loan with the option to repay immediately or defer payment of it. Repayment for loan begins six months after graduation, drop below half-time or leave school for both loan types.

Qualifications:
Eligibility is based on family income, assets, cost of attendance and any financial aid received. Student must be a U.S. citizen or permanent resident; full or half-time undergraduate or graduate student.

To begin the E-Signature process of your Master Promissory Note (MPN),

If you choose not to sign your MPN electronically when you apply online, print the MPN, sign it and return to our Servicing Agent at the following address:

COSTEP

c/o Loan Origination Department

P.O. Box 60

Edinburg, Texas 78540

Franklin Bank, S.S.B. is chartered under the laws of the State of Texas and by state law is subject to regulatory oversight by the Texas Department of Savings and Mortgage Lending. Any consumer wishing to file a complaint against Franklin Bank, S.S.B. should contact the Texas Department of Savings and Mortgage Lending through one of the following means: (a) in person or by U.S. Mail: 2601 North Lamar Boulevard, Suite 201, Austin, Texas 78705-4294, (b) via email: www.sml.state.tx.us/contacts.html, (c) via telephone: 1-877-276-5550, or (d) via fax: 1-512-475-1360.