All colleges participate in the Direct Lending program, which means a student enrolled at that school receives their federal student loans (including Stafford, PLUS and GradPLUS loans) directly from the school instead of from a lender.
Direct Loans are low-interest loans for students and parents to help pay for the cost of a student’s education after high school. The lender is the U.S. Department of Education (the Department) rather than a bank or other financial institution.
With Direct Loans, you
Borrow directly from the federal government and have a single contact-the Direct Loan Servicing Centerfor everything related to the repayment of your loans, even if you receive Direct Loans at different schools.
Have online access to your Direct Loan account information 24 hours a day, 7 days a week at Direct Loans on the Web at: www.dl.ed.gov.
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.
As with all federal student aid, you apply for Direct Loans by filling out the Free Application for Federal Student Aid (FAFSA). Most students use FAFSA on the Web to complete their applications. The information on your FAFSA is transmitted to the schools that you list on the application, and those schools use the information to assess your financial need for student aid.
Direct Loans are generally awarded as part of a larger “award package,” which may contain other types of aid as well, to help you meet the costs of going to college or career school.
Student borrowers are not required to begin making payments until after they drop below half-time attendance. See When you graduate or leave school for more information.
Your school will tell you how much you may borrow and the types of loans your are eligible to receive. The information below will give you an idea of how much you may be eligible to receive.
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