Federal Stafford Loans

Applying for the Loan

1) Accept Your Loan in Axess

  • If the loan is included in your award you can accept it in AXESS. Under the Student Center tab, in the Finances section, select "Accept/Decline Awards." You can accept the maximum amount, specify a lower amount, or decline the loan.
  • If you do not have the loan included in your award, submit a request to financialaid@stanford.edu.
  • If you have not applied for financial aid, complete the Applying for Aid process.

2) Complete Your Master Promissory Note

    Prior year borrower

  • If you completed an MPN in a prior year at Stanford you do not need to take any further steps for your loan to be disbursed.

    First-time borrower

  • If you are a first-time borrower, you will receive an email message from Northwest Education Loan Association (NELA), our loan processing agency, when your promissory note is ready. The email message should arrive within three business days from when you accept the loan in AXESS.

  • When you click on the link in the email message, you will be directed to choose a lender (if you did not already do so in AXESS) and complete your promissory note online. We recommend using the electronic signature option for fastest processing.

  • You should contact NELA at (800) 979-4441 or loaninfo@nela.net if you:
    • Have questions about completing and electronically signing the online promissory note;
    • Would prefer to receive and sign a paper promissory note;
    • Wish to borrow from a lender that is not on our list of preferred lenders.
  • If you have trouble using the link in the email message from NELA, you can go directly to the OpenNet Web site to see if your promissory note is available.

3) Receiving Your Loan Funds

Loans are generally divided evenly over the three quarters of the academic year. If your promissory note is complete and you have enrolled for courses, your loan funds will be applied to your University bill a few days prior to the beginning of each quarter. If the quarter has already begun, you can monitor your loan disbursements in AXESS.