Direct Loans
Direct Loans have replaced the Federal Family Education Loans (Stafford/PLUS loans) starting this 2010 summer semester.
Direct Loans are:
- Simple—You borrow directly from the federal government and have a single contact—the Direct Loan Servicing Center—for everything related to the repayment of your loans, even if you receive Direct Loans at different schools.
- Convenient—You’ll have online access to your Direct Loan account information 24 hours a day, seven days a week via Direct Loan Servicing online at www.dl.ed.gov.
- Flexible—You can choose from several repayment plans that are designed to meet the needs of almost any borrower, and you can switch repayment plans if your needs change.
You will be required to go to www.studentloans.gov and use your 4 digit PIN # that was used to sign your FAFSA to complete:
1) An electronic Master Promissory Note (eMPN) eMPN before any loan funds will credit to your account.
2) And Entrance Counseling
Loans, unlike grants and work-study, are borrowed money that must be repaid and may accumulate interest. You may not have these loans canceled because you didn't get a job in your field of study or because you are having financial difficulty. Loans are legal obligations, so before you take out a student loan think about the amount that you will have to repay in the years after graduation.
