Direct lending
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Direct Lending. Presented by the Financial Aid Office Seph R. Rodriguez – Marisa Lopez – Jonathan Moreno. Agenda. Why Direct Lending? What is Direct Lending StudentLoans.gov Completing the Direct Loan Promissory Note Complete Entrance Counseling Helpful Websites

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Direct Lending

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Direct lending

Direct Lending

Presented by the Financial Aid Office

Seph R. Rodriguez – Marisa Lopez – Jonathan Moreno


Agenda

Agenda

  • Why Direct Lending?

  • What is Direct Lending

  • StudentLoans.gov

    • Completing the Direct Loan Promissory Note

    • Complete Entrance Counseling

  • Helpful Websites

  • Financial Aid Contact Information


Why direct lending

Why Direct Lending?

  • On March 30, 2010, President Obama signed into law the Health Care and Education Reconciliation Act of 2010 (H.R.4872). The new bill requires that all colleges participate and process all federal Stafford and PLUS loans through the Direct Loan program beginning 7/1/10.

  • Along with the implementation of the new federally mandated Direct Loan processing requirement is the termination of the Federal Family Education Loan (FFEL) program.

  • Due to these changes the Department of Education has increased the Expected Family Contribution for PELL eligibility (undergads only)


What is direct lending

What is Direct Lending?

  • Established in 1995

  • Similar to FFELP in most ways

    • Types of loans

    • Similar regulations

    • Identical loan limits

  • Differences between DL and FFELP

    • No more private lenders

      • No more required lender list

    • Students borrow directly from the Department of Education


Studentloans gov

StudentLoans.gov


Starts with a login

Register for a login

Must have a PIN

The same PIN used for the FAFSA

Starts With a Login


Manage my direct loan

Direct loan maintenance

Parent Direct loan

Undergraduate

Dependant

Manage My Direct Loan


Tools and recourses

pin.ed.gov

Login

FAFSA

Direct loan

Entrance/Exit Interviews

fafsa.gov

nslds.ed.gov

loanconsolidation.ed.gov

Tools and Recourses


Managing repayment studentaid ed gov

All you need to know about…

Deferment & Forbearance

Loan Discharge and Forgiveness

Managing Repaymentstudentaid.ed.gov


Learn more

studentaid.ed.gov

All that is Direct Loan

Spanish

Learn More


Completing the direct loan promissory note

Completing the Direct Loan Promissory Note

Sign in to StudentLoans.gov from the “Manage My Direct Loan” section. Provide the requested information then click “sign In”


Click complete master promissory note

Click "Complete Master Promissory Note"


Select the type of loan you re applying for

Select the type of loan you’re applying for


Fill in the blanks

Fill in the Blanks


Fill in school state name address will auto populate

Fill in School State & NameAddress Will Auto-Populate


Provide two valid references

Provide Two Valid References


Review terms conditions

Review Terms & Conditions


Review entire note sign

Review Entire Note & Sign


Complete entrance counseling

Complete Entrance Counseling


Select student status

Select Student Status


Review guidelines

Review Guidelines


Fill in school state name address will auto populate1

Fill in School State & NameAddress Will Auto-Populate


Counseling session quiz

Counseling Session & Quiz


Review rights responsibilities then submit

Review Rights & Responsibilities Then Submit


Print entrance record

Print Entrance Record


Helpful websites

Helpful Websites

  • www.StudentLoans.gov – One stop FA shop

  • www.studentaid.ed.gov – General FA info

  • www.fafsa.gov – FAFSA completion and correction

  • www.pin.ed.gov – Electronic signature

  • www.nslds.ed.gov – FA history & exit counseling


Questions

Questions…


Financial aid contact information

Financial Aid Contact Information

General Telephone Numbers

(626)397-1350

(800)353-1350

General E-Mail address

[email protected]


  • Login