Alice Lloyd College

FAQs About the Federal Direct Lending Program

1. Why is ALC changing to the Federal Direct Lending Program?

President Obama and the current administration in Washington voted and passed the H.R. 4872-Health Care and Education Affordability Reconciliation Act of 2010, requiring all federal student loans to be funded by USDE through Direct Lending beginning July 1, 2010.

2. Do I have to complete another Master Promissory Note (MPN) with the federal government even if I have signed one before with a bank or other lender?

Yes, you must sign a new Direct MPN, because the federal government will now be your new lender. This should be the last MPN you have to sign as long as you attend ALC.

3. How and when do I complete a Direct Loan MPN?

If you plan to receive a Direct Loan, you need to complete a Direct Loan MPN as soon as possible. By completing the MPN now you will avoid possible delays in receiving your student loan funds. You can complete the MPN here.

4. If I have already completed a Direct Loan Master Promissory Note for another school, do I have to complete one for ALC?

Yes.

5. When I change from bank student loans to the Federal Direct Loan Program, will my earlier loans go into repayment?

No, as long as you remain enrolled at least half-time.   

6. Can I consolidate my Direct Loans and my bank loans?

Previous loans will not go into repayment as long as you remain enrolled at least half-time without a six-month break. When you do start repayment, you have a choice to either make payments to your previous lenders and the Federal Direct Loan Program or to consolidate your loans with the lender or the federal government. Currently, most lenders have stopped consolidating loans, so most consolidations are with the government. The benefits of consolidation depend on interest rates at the time of consolidation. Federal consolidation information: http://www.loanconsolidation.ed.gov/.

7. How do I contact the Direct Loan Program?

Telephone: 1.800.848.0979
Website: www.direct.ed.gov

Upcoming Events

Calendar

March 2015
S M T W T F S
22 23 24

Convocation: Dr. Patrick Greene

25 26

Convocation: Dr. Rhonda Smith-Daugherty - Wings for Victory: Women Aviators and World War II

27

Midterm Grades Due

28
1 2

JBS 3rd Quarter Grades Due

3

Baseball vs Johnson University

James V. Mongiardo Speech Competition

4 5

Convocation: John S. Moore

6

Baseball vs Ohio Christian University

Softball @ Asbury

7

Softball @ Asbury

8

Men's Golf @ Skyhawk Invitational

Softball vs UPike

9

Men's Golf @ Skyhawk Invitational

Spring Break - No Classes

Spring Break - No Classes

Voices of Appalachia Choir Tour

10

Spring Break - No Classes

Spring Break - No Classes

Voices of Appalachia Choir Tour

Men's Golf @ Skyhawk Invitational

11

Spring Break - No Classes

Spring Break - No Classes

Voices of Appalachia Choir Tour

12

Spring Break - No Classes

Spring Break - No Classes

Voices of Appalachia Choir Tour

13

Spring Break - No Classes

Spring Break - No Classes

Voices of Appalachia Choir Tour

Softball vs Point Park

14

Softball vs Point Park

15 16 17

Convocation: Terri Thompson

18 19 20

Baseball vs Brescia University

Softball @ UC Clermont

21

Softball @ IU Southeast

Baseball vs Brescia University

22

Softball @ IU Southeast

23

Men's Golf @ Southeast Kentucky Intercollegiate

24

ALC Blood Drive

Men's Golf @ Southeast Kentucky Intercollegiate

Convocation: Blood Drive - Community Service

Baseball vs Tennessee Temple

25

Baseball vs Tennessee Temple

Men's Tennis vs UVA Wise

26

Baseball vs Miami University Hamilton

Convocation: Blue Jeans for Babies

27

Baseball vs Point Park University

Men's Tennis vs Asbury

Softball vs Rio Grande

28

Alumni Board Meeting

Softball vs Rio Grande

Baseball vs Point Park University

29 30

Softball @ Hiwassee College

31

Softball vs Bluefield College

1

Baseball vs Hiwassee College

2

Men's Tennis vs IU Southeast

Softball @ Midway

3

Good Friday - No Classes

Good Friday - No Classes

Softball @ Midway

Baseball @ Asbury University

4

Baseball @ Asbury University