There are two types of Federal Stafford Loans:
For more information on the interest rates of Direct Federal Stafford Loans, please see the chart below.
Students may qualify for either of the above types of Stafford Loans, or a combination of the above. To be eligible for the Stafford Loans, students must be enrolled for a minimum of six credits per semester.
To receive student loan funds at Hagerstown Community College, you must complete these three steps. You will not receive loan funds if you do not complete ALL three steps listed below:
- Complete the FAFSA at www.fafsa.gov . When the FAFSA asks for a school code please enter 002074.
- Complete the Entrance Counseling and the Master Promissory Note (MPN) at www.studentloans.gov . You will need to sign into this site with your FAFSA PIN (Personal Identification Number). We will receive notification that you have completed these items in 24 to 48 hours.
- Sign the HCC Financial Aid Award Letter. Your Award Letter will be available on WebAdvisor once your loan has been processed. On WebAdvisor click on Financial Aid Award Letter and print. Make any adjustments to your aid by correcting the award letter (decrease loan amounts, etc.) and submit to the Financial Aid Office.
Awarding for the Federal Stafford Loans will be as follows:
• Freshman students will be awarded $5500 ($3500 subsidized/$2000 unsubsidized).
• Sophomore students, who have completed at least 30 credit hours, will be awarded $6500 ($4500 subsidized/$2000 unsubsidized).
Loans are usually distributed evenly between the fall and spring semesters. There will be two disbursements of the Stafford Loan per semester.
• The first disbursement: four or five weeks after the semester begins and instructors have confirmed attendance.
• The second disbursement: approximately one month after the first disbursement (approximately 7.5 weeks after the semester begins)
Students are notified by email regarding the disbursement schedule.
To track the progress of your current Federal Direct Stafford Loan go to Federal Student Loan Servicing. 
To track your Federal Financial Aid history go to the National Student Loan Data System .
For information about repaying your Student Loans that you can print for reference later, go to the Quick Reference Guide on Repaying Student Loans .
Parent loans are designed for parents who want to borrow to help pay for their dependent children’s educational expenses. Parent borrowers generally must begin repaying the principal and interest within 60 days after the loan is completely disbursed.
Students and parents wishing to apply for education loans must meet all requirements for Federal Financial Aid, complete the FAFSA, and complete a PLUS Borrower Information sheet, available on our Forms Page. 
If you have borrowed Stafford Loans in the past and are nearing the end of your student career, you may wish to consolidate your Federal student loans in order to reduce the number and amount of student loan payments that you must make per month.
For more information click on this link:
Please note: the SFAO communicates with you mainly via e-mail, so please provide us with an e-mail address that you check frequently.