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

April 2015
S M T W T F S
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

5 6

ALC Pre-Registration

7

ALC Pre-Registration

Baseball vs UPike

Softball @ Kentucky Christian

8

ALC Pre-Registration

9

ALC Pre-Registration

ALC Spring Play

JBS 4th Quarter Midterm Ends

Convocation: Our Town

10

ALC Pre-Registration

ALC Spring Play

ALC Floyd County Alumni Banquet

Baseball @ Indiana University Southeast

Softball @ Carlow

11

ALC Spring Play

Men's Tennis @ IU East

Softball @ Carlow

Baseball @ Indiana University Southeast

12 13 14

ALC Honors Day - Required of Students, Faculty, and Staff

Baseball @ Ohio Christian University

Honors Day

15

ALC Athletic Awards

16

ALC All Campus Cookout

ALC Student Work Awards Convocation - Required of All Students, Faculty, and Staff

ALC Work Study Day

Voices of Appalachia Spring Concert

Student Work Awards

Convocation: ALC Wampler Caudill Ensemble Dinner Concert

17

Baseball vs Rio Grande University

Softball vs Brescia

18

ALC Spring Formal

Men's Golf vs West Virginia Tech

Men's Tennis vs Brescia

Softball vs Brescia

Baseball vs Rio Grande University

19 20

JBS K-9 Achievement Test

21

JBS K-9 Achievement Test

22

JBS K-9 Achievement Test

Baseball @ New River CC

23

JBS K-9 Achievement Test

24

ALC Last Day of Classes

Spring Board Meeting

25

Spring Board Meeting

JBS Prom

26 27

ALC Final Exams Week

28

ALC Final Exams Week

29

ALC Final Exams Week

30

ALC Final Exams Week

JBS Senior Spotlight

1

JBS Academic/Athletic Awards

2

ALC Baccalaureate/Commencement