Financial Aid Information
2010-2011 New information for Stafford and PLUS Loans
For the 2010-2011 academic year the Financial Aid Office will change the way we process Stafford and parent PLUS Loans. Currently we participate with the Federal Family Education Loan Program (FFELP), which is a lender-based process. Effective with the 2010-2011 academic year we will participate in the Direct Lending program. We will no longer offer FFELP-based loans. With Direct Lending, the lender is the U.S. Department of Education; there are no banks or other financial institutions. Interest rates and aggregate limits will remain the same for Stafford Loans under Direct Lending. PLUS Loan borrowers will have an advantage with Direct Lending as the interest rate is lower. We are currently in the process of working with other offices on campus to implement this functionality. Additional information will be available on our web site as we work through this conversion. We appreciate your patience and welcome your questions.