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

February 2013
S M T W T F S
27 28 29

Women's Basketball @ Berea College

CloseJanuary 29, 2013 @ 5:30 pm

Men's Basketball @ Berea College

CloseJanuary 29, 2013 @ 7:30 pm
30 31 1

JBS 3rd Quarter Mid-Term Grades Due

CloseFebruary 1, 2013 @ N/A
2

Eagle Day Saturday

CloseFebruary 2, 2013 @ N/A

Women's Basketball versus Indiana University Southeast

CloseFebruary 2, 2013 @ 2:00 pm

Men's Basketball @ Indiana University Southeast

CloseFebruary 2, 2013 @ 4:00 pm
3 4 5

ALC Blood Drive

CloseFebruary 5, 2013 @ N/A

Blood Drive

CloseFebruary 5, 2013 @ N/A

RCPC & Kentucky River Health District

CloseFebruary 5, 2013 @ 1:00 pm

Event Details >>

Kentucky River Health Services visits campus to provide students with information about the HPV disease.
6 7

Women's Basketball versus Asbury University

CloseFebruary 7, 2013 @ 6:00 pm

Men's Basketball versus Asbury University

CloseFebruary 7, 2013 @ 8:00 pm
8

Eagles Baseball @ Victory University

CloseFebruary 8, 2013 @ N/A
9

ACT Test Date

CloseFebruary 9, 2013 @ N/A

Eagle Day Saturday

CloseFebruary 9, 2013 @ N/A

Eagles Baseball @ Victory University

CloseFebruary 9, 2013 @ 11:00 am

Event Details >>

Doubleheader

Men's Basketball @ Cincinnati Christian University

CloseFebruary 9, 2013 @ 2:00 pm
10 11 12

Jenn Mundia

CloseFebruary 12, 2013 @ 1:00 pm

Event Details >>

Jenn Mundia is a North Carolina-based singer/songwriter and graduate of Boston’s Berklee College of Music. A powerhouse voice and boisterous personality to match will have you entertained before she even sings a note.

Women's Basketball @ Ohio Christian University

CloseFebruary 12, 2013 @ 6:00 pm
13 14 15 16

Eagle Day Saturday

CloseFebruary 16, 2013 @ N/A

Men's Basketball versus IU East

CloseFebruary 16, 2013 @ 1:00 pm

Women's Basketball versus Midway College

CloseFebruary 16, 2013 @ 3:00 pm
17 18

ALC Global Awareness Week

CloseFebruary 18, 2013 @ N/A
19

ALC Global Awareness Week

CloseFebruary 18, 2013 @ N/A

Andrea Davidson

CloseFebruary 19, 2013 @ 1:00 pm

Event Details >>

Andrea Davidson will delight you with her music, which is suffused with a multitude of influences, ranging from the melodic vibrations of The Beatles to the lyrical resonance of Bob Dylan, and the soulful sounds of Bill Withers and Marvin Gaye to the acoustic feel of Ray LaMontagne and Patty Griffin.
20

ALC Global Awareness Week

CloseFebruary 18, 2013 @ N/A
21

ALC Global Awareness Week

CloseFebruary 18, 2013 @ N/A

Eagles Baseball @ Virginia Intermont

CloseFebruary 21, 2013 @ 1:00 pm

Event Details >>

Doubleheader
22 23

Eagle Day Saturday

CloseFebruary 23, 2013 @ N/A

Eagles Baseball versus Ohio Christian

CloseFebruary 23, 2013 @ 1:00 pm

Event Details >>

Doubleheader

Men's Basketball @ Indiana University Southeast

CloseFebruary 23, 2013 @ 2:00 pm

Event Details >>

KIAC Tournament Quarterfinal

Women's Basketball versus Midway College

CloseFebruary 23, 2013 @ 2:00 pm

Event Details >>

KIAC Tournament Quarterfinal
24 25

Women's Basketball versus Asbury University

CloseFebruary 25, 2013 @ 4:00 pm

Event Details >>

KIAC Tournament Semifinal. The game will be played at IU Southeast, which is in New Albany, Indiana.
26

Lori Farris

CloseFebruary 26, 2013 @ 1:00 pm

Event Details >>

Lori Farris, the Mediation and Senior Protection Branch Manager for the Kentucky Attorney General’s Office of Consumer Protection, guests to discuss the issues currently facing consumers.
27 28

Eagles Baseball versus Bethel University

CloseFebruary 28, 2013 @ 1:00 pm

Event Details >>

Doubleheader
1

ALC Midterm Grades Due

CloseMarch 1, 2013 @ N/A

JBS 3rd Quarter Grades Due

CloseMarch 1, 2013 @ N/A
2

Eagle Day Saturday

CloseMarch 2, 2013 @ N/A