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What is Direct Lending (DL)?

The William D. Ford Direct Lending Program is one of two options available to schools who wish to offer their students federal educational loans. Under Direct Lending the school and student receive funds directly from the Department of Education.  In other words, the Department of Education serves as your lender for your Stafford and PLUS loans.

Steps for Receiving your Loan Funds (Students)

  1. Accept your Loans in Orion - log into Orion, click Self Service, click Campus Financials, select view Financial Aid, select the current aid year (i.e.: 2010 for Fall 2009 / Spring 2010).  For loan awards you will be able to type in the desired amount (note: you cannot accept a loan amount larger than the amount offered).  Once you have reviewed your financial aid, click Accept.
  1. Complete Entrance Counseling - Entrance and Exit counseling are requirements for any student who wishes to borrow a federal educational loan. Counseling will teach you about your rights and responsibilities, repayment options, forbearance and deferment, just to name a few.  You may complete entrance counseling through the Department of Education’s Entrance Counseling Website
  1. Sign a Master Promissory Note (MPN) - Students borrowing subsidized, unsubsidized or graduate PLUS funds can electronically sign their MPN at the Student DL MPN Website.

Note: Students who signed an MPN with their lender under the Federal Family Education Loan Program (FFELP) are required to sign a new MPN with Direct Lending.

Steps for Receiving your PLUS Loan Funds (Parents)

  1. Your student needs to accept their PLUS loan in Orion - log into Orion, click Self Service, click Campus Financials, select view Financial Aid, select the current aid year (i.e.: 2010 for Fall 2009 / Spring 2010).  For loan awards you will be able to type in the desired amount (note: you cannot accept a loan amount larger than the amount offered).  Once you have reviewed your financial aid click Accept.
  1. Complete a Federal Direct PLUS Loan Application – This form serves as application and certification of your PLUS loan.  Please, complete the Federal Direct PLUS Loan Application for Parents and forward it to our office.
  1. Sign a Master Promissory Note (MPN) - Parents borrowing PLUS funds to help fund their student’s education can electronically sign their MPN at the Parent DL MPN Website.

Updated: September 14, 2009