Host: What do I need to do to complete applying for federal direct or Stafford loan?

Brad Barnett: If you are in your first year of applying for applying for federal direct or Stafford loan program, then you are going to need to do the master loan promissory note and at most schools, you are going to need to do entrance alone counseling. Now unless you change lenders or move schools you are only going to have to do the promissory note once and entrance alone counseling should be a one time issue as well.

Depending on the school you are attending though, you may also have an institutional form or online response or something needed from you to the school, letting them know that you want to accept that loan. Every school is very different and how it handles those. So, pay attention to your award notice, pay attention to the loan process at your school and just make sure you follow the steps.