Direct lending
This presentation is the property of its rightful owner.
Sponsored Links
1 / 28

Direct Lending PowerPoint PPT Presentation


  • 138 Views
  • Uploaded on
  • Presentation posted in: General

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

Download Presentation

Direct Lending

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


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

  • Financial Aid Contact Information


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?

  • 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


Register for a login

Must have a PIN

The same PIN used for the FAFSA

Starts With a Login


Direct loan maintenance

Parent Direct loan

Undergraduate

Dependant

Manage My Direct Loan


pin.ed.gov

Login

FAFSA

Direct loan

Entrance/Exit Interviews

fafsa.gov

nslds.ed.gov

loanconsolidation.ed.gov

Tools and Recourses


All you need to know about…

Deferment & Forbearance

Loan Discharge and Forgiveness

Managing Repaymentstudentaid.ed.gov


studentaid.ed.gov

All that is Direct Loan

Spanish

Learn More


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"


Select the type of loan you’re applying for


Fill in the Blanks


Fill in School State & NameAddress Will Auto-Populate


Provide Two Valid References


Review Terms & Conditions


Review Entire Note & Sign


Complete Entrance Counseling


Select Student Status


Review Guidelines


Fill in School State & NameAddress Will Auto-Populate


Counseling Session & Quiz


Review Rights & Responsibilities Then Submit


Print Entrance Record


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…


Financial Aid Contact Information

General Telephone Numbers

(626)397-1350

(800)353-1350

General E-Mail address

[email protected]


  • Login