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

December 2012
S M T W T F S
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
2

Christmas Pretties Dinner

CloseDecember 2, 2012 @ N/A

The Voices of AppalachiaChristmas Concert

CloseDecember 2, 2012 @ N/A

Voices of Appalachia Christmas Concert

CloseDecember 2, 2012 @ 7:30 pm

Event Details >>

Under the direction of Richard Bowers, the Voices of Appalachia will present their Christmas Concert.
3

Men's Basketball @ Milligan College

CloseDecember 3, 2012 @ 7:00 pm
4

Luncheon for Graduates

CloseDecember 4, 2012 @ 11:30 am

Event Details >>

Optional. For December 2012 and May 2013 graduates ONLY.

Celebration of Graduates

CloseDecember 4, 2012 @ 1:00 pm

Event Details >>

For December 2012 and May 2013 graduates ONLY. This will be an afternoon of great fun, food, and prizes. Attendees will receive convocation credit. PLEASE NOTE: Everything kicks off at 11:30 AM in the Cushing Hall auditorium!

Women's Basketball @ Kentucky Christian University

CloseDecember 4, 2012 @ 6:00 pm
5

Men's Basketball @ Virginia Intermont

CloseDecember 5, 2012 @ N/A

Men's Basketball @ Virginia Intermont

CloseDecember 5, 2012 @ 7:00 pm
6 7

ALC Last Day of Classes

CloseDecember 7, 2012 @ N/A

JBS Christmas Program

CloseDecember 7, 2012 @ N/A

Last Day of Classes

CloseDecember 7, 2012 @ N/A
8

Eagle Day Saturday

CloseDecember 8, 2012 @ N/A

SAT Test Date

CloseDecember 8, 2012 @ N/A

Women's Basketball versus Brescia University

CloseDecember 8, 2012 @ 1:00 pm

Men's Basketball versus Brescia University

CloseDecember 8, 2012 @ 3:00 pm
9 10

ALC Final Exams

CloseDecember 10, 2012 @ N/A

Final Exams Week

CloseDecember 10, 2012 @ N/A

JBS Final Exams

CloseDecember 10, 2012 @ N/A
11

ALC Final Exams

CloseDecember 10, 2012 @ N/A

Final Exams Week

CloseDecember 10, 2012 @ N/A

JBS Final Exams

CloseDecember 10, 2012 @ N/A
12

ALC Final Exams

CloseDecember 10, 2012 @ N/A

Final Exams Week

CloseDecember 10, 2012 @ N/A

JBS Final Exams

CloseDecember 10, 2012 @ N/A
13

ALC Final Exams

CloseDecember 10, 2012 @ N/A

Final Exams Week

CloseDecember 10, 2012 @ N/A

JBS Final Exams

CloseDecember 10, 2012 @ N/A
14

ALC Semester Ends

CloseDecember 14, 2012 @ N/A

JBS 2nd Semester Grades Due

CloseDecember 14, 2012 @ N/A

JBS Classes Dismiss

CloseDecember 14, 2012 @ 11:40 am
15
16 17

JBS Faculty In-Service

CloseDecember 17, 2012 @ N/A

Women's Basketball versus UPike

CloseDecember 17, 2012 @ 4:00 pm
18 19 20 21 22
23 24 25 26 27 28 29
30 31 1

Begin Filling Out Your FAFSA

CloseJanuary 1, 2013 @ N/A
2

JBS First Day of Second Semester

CloseJanuary 2, 2013 @ N/A
3 4

Women's Basketball versus Point Park (PA)

CloseJanuary 4, 2013 @ 2:00 pm

Men's Basketball versus Point Park (PA)

CloseJanuary 4, 2013 @ 4:00 pm
5

Women's Basketball versus Carlow University (PA)

CloseJanuary 5, 2013 @ 2:00 pm

Men's Basketball versus IU Southeast

CloseJanuary 5, 2013 @ 4:00 pm