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 either in the fall of 2010 or beyond, 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

November 2012
S M T W T F S
28 29 30 31

Trunk or Treat (Admissions Ambassadors)

CloseOctober 31, 2012 @ N/A
1 2 3

Eagle Day Saturday

CloseNovember 3, 2012 @ N/A

SAT Test Date

CloseNovember 3, 2012 @ N/A
4 5 6

ALC Blood Drive

CloseNovember 6, 2012 @ N/A
7 8

JBS 2nd Quarter Mid-Term Ends

CloseNovember 8, 2012 @ N/A

Men's Basketball versus Milligan College

CloseNovember 8, 2012 @ 7:00 pm
9 10

Men's Basketball @ UPike

CloseNovember 10, 2012 @ 4:00 pm
11 12 13

Grant Terry

CloseNovember 13, 2012 @ 1:00 pm

Event Details >>

Acoustic pop artist Grant Terry sings selections from his new CD Perfect Mess.

Women's Basketball versus Union College

CloseNovember 13, 2012 @ 6:00 pm
14

ALC Pre-Registration for Spring Semester

CloseNovember 14, 2012 @ N/A

Pre-Registration (for Spring Semester)

CloseNovember 14, 2012 @ N/A
15

Pre-Registration (for Spring Semester)

CloseNovember 14, 2012 @ N/A

ALC Pre-Registration for Spring Semester

CloseNovember 15, 2012 @ N/A
16

Pre-Registration (for Spring Semester)

CloseNovember 14, 2012 @ N/A

ALC Pre-Registration for Spring Semester

CloseNovember 16, 2012 @ N/A

Women's Basketball versus UC Clermont @ Asbury Classic

CloseNovember 16, 2012 @ 5:30 pm
17

Pre-Registration (for Spring Semester)

CloseNovember 14, 2012 @ N/A

ALC Ohio Alumni Meeting

CloseNovember 17, 2012 @ N/A

Women's Basketball versus Point Univ. (GA) @ Asbury Classic

CloseNovember 17, 2012 @ 1:00 pm
18

Pre-Registration (for Spring Semester)

CloseNovember 14, 2012 @ N/A
19

Pre-Registration (for Spring Semester)

CloseNovember 14, 2012 @ N/A

ALC Pre-Registration for Spring Semester

CloseNovember 19, 2012 @ N/A
20

ALC Pre-Registration for Spring Semester

CloseNovember 20, 2012 @ N/A

Women's Basketball @ Carlow University (PA)

CloseNovember 20, 2012 @ 7:00 pm
21

ALC Thanksgiving Break (No Classes)

CloseNovember 21, 2012 @ N/A

JBS Thanksgiving Break (No Classes)

CloseNovember 21, 2012 @ N/A

Thanksgiving Break (No Classes)

CloseNovember 21, 2012 @ N/A

Women's Basketball @ Point Park University (PA)

CloseNovember 21, 2012 @ 1:00 pm

Men's Basketball @ Point Park University (PA)

CloseNovember 21, 2012 @ 3:00 pm
22

ALC Thanksgiving Break (No Classes)

CloseNovember 21, 2012 @ N/A

JBS Thanksgiving Break (No Classes)

CloseNovember 21, 2012 @ N/A

Thanksgiving Break (No Classes)

CloseNovember 21, 2012 @ N/A
23 24
25 26 27

Catching the Entrepreneurial Spirit

CloseNovember 27, 2012 @ 1:00 pm

Event Details >>

Guest Terri Thompson shares her failures and successes as an entrepreneur.

Women's Basketball versus UPike

CloseNovember 27, 2012 @ 5:30 pm

Men's Basketball versus Montreat College

CloseNovember 27, 2012 @ 7:30 pm
28 29 30 1

Eagle Day Saturday

CloseDecember 1, 2012 @ N/A

SAT Test Date

CloseDecember 1, 2012 @ N/A

Men's Basketball @ Kentucky Christian University

CloseDecember 1, 2012 @ 1:00 pm

Women's Basketball versus Ohio Christian University

CloseDecember 1, 2012 @ 2:00 pm