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

August 2014
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JBS Faculty In-service/Opening Day

CloseAugust 1, 2014 @ N/A
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3 4

JBS Faculty In-service/Opening Day

CloseAugust 4, 2014 @ N/A
5

JBS 1st Day of Classes

CloseAugust 5, 2014 @ N/A
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10 11

ALC Faculty/Staff Orientation

CloseAugust 11, 2014 @ N/A

ALC Resident Advisor Orientation

CloseAugust 11, 2014 @ N/A
12

ALC Faculty/Staff Orientation

CloseAugust 11, 2014 @ N/A

ALC Resident Advisor Orientation

CloseAugust 11, 2014 @ N/A
13

ALC Faculty/Staff Orientation

CloseAugust 11, 2014 @ N/A

ALC Resident Advisor Orientation

CloseAugust 11, 2014 @ N/A
14

ALC Faculty/Staff Orientation

CloseAugust 11, 2014 @ N/A

ALC Resident Advisor Orientation

CloseAugust 11, 2014 @ N/A

JBS Potluck Dinner

CloseAugust 14, 2014 @ N/A
15

ALC Faculty/Staff Orientation

CloseAugust 11, 2014 @ N/A

ALC Resident Advisor Orientation

CloseAugust 11, 2014 @ N/A
16
17

ALC New Students Arrive

CloseAugust 17, 2014 @ N/A

Event Details >>

Also called ”Move-In Day.”

Move-In Day

CloseAugust 17, 2014 @ N/A

Event Details >>

New students arrive on campus and move into their assigned dormitories.

18

Student Orientation & Registration

CloseAugust 18, 2014 @ N/A

Student Orientation & Registration

CloseAugust 18, 2014 @ N/A
19

Student Orientation & Registration

CloseAugust 18, 2014 @ N/A

Student Orientation & Registration

CloseAugust 18, 2014 @ N/A
20

First Day of Classes

CloseAugust 20, 2014 @ N/A

First Day of Classes

CloseAugust 20, 2014 @ N/A
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24 25 26

Yearbook Picture Convocation

CloseAugust 26, 2014 @ 9:00 am

Event Details >>

Taken in the Student Learning Meeting Room in the Library. Students are required to attend the meeting and have their photo taken to receive convocation credit.

Mandatory Student Class Meeting - Professional Dress Required

CloseAugust 26, 2014 @ 1:00 pm

Event Details >>

Students are required to attend the meeting and have their yearbook photo taken to receive credit.

27

Last Day to Register, Drop/Add

CloseAugust 27, 2014 @ N/A

Last Day to Register, Drop/Add

CloseAugust 27, 2014 @ N/A
28 29 30
31 1

Labor Day (No Classes)

CloseSeptember 1, 2014 @ N/A

Labor Day (No Classes)

CloseSeptember 1, 2014 @ N/A
2 3 4

All-Campus Cookout

CloseSeptember 4, 2014 @ N/A
5

JBS 1st Quarter Midterm Ends

CloseSeptember 5, 2014 @ N/A

JBS Elementary Fall Field Day (K-5)

CloseSeptember 5, 2014 @ N/A
6