Help with Federal Stafford Loan?

[Dana F]

I recieved my Master Promisory Note in the mail today, and I have a few questions about filling it out. First, why do I have to have two adult references? Listing my parents makes sense, but will they contact the other person I write down as a reference, and do they have any obligations as my reference? And second, if I choose a lender does that mean I automatically get the loan, or do I have to contact the bank and apply for a Stafford Loan there? Please help, I'm a first generation college student and I am so confused.

[jateef]

I think the only obligations your references have, is to help the government track you down, if you default on your loans. Make sure you don't skip out on your repayment!I believe you just choose your lender, and the rest gets taken care of from there. When I was in school, the bank would send the school my loan money. The loan money would get applied to tuition, and any left over would be returned to me (through a school check). It gets easier after your first year doing this!