The Health Care and Education Reconciliation Act of 2010 (H.R. 4872) was signed into law by President Obama on Tuesday, March 30, 2010. The bill includes the elimination of new lending under the FFEL Program beginning July 1, 2010. If you have questions visit our HCERA Legislation Web page or contact our Policy, Compliance and Training department at 405.234.4432 or pct@ogslp.org.
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The webinars are conducted by Federal Student Aid staff and focus on recent enhancements to the Direct Loan Program. Advanced registration is required and will be available on a first-come, first-served basis.
Dept. of Education Direct Loan Publications |
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DL Basics for Students (PDF) – This brochure introduces students to Direct subsidized and unsubsidized loans |
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DL Basics for Parents (PDF) – This brochure educates parents about Direct PLUS Loans |
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Fundamentos Sobre Los Préstamos Educativos Direct Loans: Guía Para Padres (DL Basics for Parents in Spanish) (PDF) – This brochure educates Spanish-speaking parents about Direct PLUS Loans |
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DL Entrance Counseling Guide (PDF) – Schools can use this guide during on-campus or individual entrance counseling sessions with students. |
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PLUS DL Basics and Entrance Counseling Guide (PDF) – Schools can use this guide for graduate and professional student PLUS loan borrowers during on-campus or individual entrance counseling sessions. |
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DL Exit Counseling Guide (PDF) – Schools can use this guide during on-campus or individual exit counseling sessions with students. |
A. You can reach ED's DL Servicing Center from 8 a.m. to 8 p.m. (ET), Monday through Friday by calling 888.877.7658 or you can contact the Region VI office in Dallas at 214.880.2405. In addition, ED's Direct Loan Servicing School Site is available at all times. In addition, you can use this Loan Servicer Contact Information Sheet (PDF) from ED to locate specific contact information for each servicer.
A. If your school is eligible and certified for other FSA programs, with the Direct Loan Program listed as an approved program on its ECAR, FSA will initiate certain setup actions automatically. The school must send an e-mail request to the COD School Relations Center at CODSupport@acs-inc.com, with the subject line, "Request to Participate in the Direct Loan Program." The body of the e-mail should include:
A. A member of the FSA On Boarding Team will be assigned as your point of contact (POC). The POC will send a participation acknowledgement e-mail which will include your school's Direct Loan code. Your POC will also explain how the Direct Loan Program works and help you set up your user account and options in FSA systems (including the G5 payment system, if your school has not previously received funds from ED).
A. There are funds appropriated by the HCERA to assist schools in the process of transitioning from FFELP to DL. ED has decided the most efficient and equitable way to distribute funds is to enhance the on-boarding processes by having each Point of Contact (POC) assess an institution's situation on an individual basis. Read ED's April 20, 2010 Dear Colleague Letter for guidance and more information.
A. Yes, they are still Stafford and PLUS loans. The Department of Education, however, often refers to direct Stafford loans as 'Federal Direct Subsidized Loans' and 'Federal Direct Unsubsidized Loans' and to PLUS loans as 'Federal Direct PLUS Loans.'
A. StudentLoans.gov does not work with Macintosh/Apple's Safari Browser. Students using the Safari browser are unable to log-in to the site and will have to use a different browser, like Firefox, to access the site.
A. Students having issues completing their MPN or other problems with the site should call COD Applicant Services at 800.557.7394 (toll-free).
A. Yes. The parent only needs to complete a new MPN if:
A. The majority of students will not need to repeat entrance counseling before receiving their first DL loan disbursement. Only students who are receiving subsidized/unsubsidized loans for the first time or are receiving a Grad PLUS loan for the first time will be required to repeat entrance counseling.
A. As long as the exit counseling provided contains the necessary information required for both programs, a student with both types of loans will only need to complete either the FFELP or DL exit counseling, not both.
A. You can still use the same entrance/exit counseling service provider, assuming the provider meets all federal regulations. Most widely-used online counseling providers, such as Mapping Your Future, comply with ED's guidelines.
A. If the first disbursement cannot be rescheduled to occur before June 30, 2010, the school must contact the affected borrowers and have them complete a new DL MPN. Once the new MPN is completed, the school must then re-certify the loan using the appropriate Direct Loan process.
A. Although FFELP loans disbursed before July 1, 2010 must be fully disbursed under FFELP, your school should contact the lender(s) to verify if they plan to make disbursements after Sept. 30, 2010. After, Sept. 30, 2010, loans will no longer be eligible for the ECASLA program.
A. If the existing FFELP loan can be increased, the school may add the increased funds and disburse it as a FFELP loan. However, if the processing of the loan requires new certification, the loan must be certified and disbursed as a Direct Loan. ED will waive the prohibition against making loans under the two different programs to the same borrower for the same loan period.
A. The National Student Loan Data System (NSLDS) at NSLDS.ed.gov provides a centralized database containing all federal student loan borrower information including loan amounts, outstanding balances, loan statuses and loan servicers. To access the information, borrowers will need to provide a Social Security number (SSN), the first two letters of the last name, date of birth and PIN – the same PIN used to apply for aid and complete the FAFSA.
Federal Loan Servicer Information |
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Servicer Name |
Servicer Contact Information |
| ACS | phone: 800.508.1378 TDD/TTY: 800.855.2880 website: Ed-Servicing.com |
| FedLoan Servicing / PHEAA | phone: 800.699.2908 TDD/TTY: 800.722.8189 overseas borrowers: 717.720.1985 website: MyFedLoan.org |
| Great Lakes | phone: 800.236.4300 TDD/TTY: 800.236.4300 overseas borrowers: 608.246.1700 website: MyGreatLakes.org e-mail: Borrowers@MyGreatLakes.org |
| Nelnet | phone: 888.486.4722 TDD/TTY: 888.486.4722 overseas borrowers: 303.696.3625 website: Nelnet.com |
| Sallie Mae | phone: 800.722.1300 TDD/TTY: 877.713.3833 overseas borrowers: 254.554.4535 website: SallieMae.com |
A. The Department posted a July 23 electronic announcement providing guidance to schools about when and how to return unused funds via their G5 web site.
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