Q & A: Federal Direct Loans
What are Direct Loans?
Beginning July 1, 2010 all colleges and universities must use the William D. Ford Federal Direct Loan Program for new federal loans, commonly referred to as Direct Loans. Previously Anderson University had participated in the Federal Family Educational Loan Program where you were able to select your lender. Under the Direct Loan Program the federal government will serve as your lender.
What do I need to do in order to receive my Direct Grad PLUS Loan?
There are two steps you need to take:
- Request your loan online.
- Complete and sign a Master Promissory Note (MPN) online. Log in by using your Personal Identification Number (PIN) provided to you by the Department of Education. It is the same PIN you used to complete the Free Application for Federal Student Aid.
You can retrieve your PIN or apply for one online at www.pin.ed.gov.