1. Direct Lending Presented by the Financial Aid Office Seph R. Rodriguez – Marisa Lopez – Jonathan Moreno

2. Agenda Why Direct Lending? Why Direct Lending? What is Direct Lending What is Direct Lending StudentLoans.gov StudentLoans.gov Completing the Direct Loan Promissory Note Completing the Direct Loan Promissory Note Complete Entrance Counseling Complete Entrance Counseling Helpful Websites Helpful Websites Financial Aid Contact Information Financial Aid Contact Information

3. Why Direct Lending? On March 30, 2010, President Obama signed into law the Health Care and Education Reconciliation Act of 2010 (H.R.4872). The new bill requires that all colleges participate and process all federal Stafford and PLUS loans through the Direct Loan program beginning 7/1/10. On March 30, 2010, President Obama signed into law the Health Care and Education Reconciliation Act of 2010 (H.R.4872). The new bill requires that all colleges participate and process all federal Stafford and PLUS loans through the Direct Loan program beginning 7/1/10. Along with the implementation of the new federally mandated Direct Loan processing requirement is the termination of the Federal Family Education Loan (FFEL) program. Along with the implementation of the new federally mandated Direct Loan processing requirement is the termination of the Federal Family Education Loan (FFEL) program. Due to these changes the Department of Education has increased the Expected Family Contribution for PELL eligibility (undergads only) Due to these changes the Department of Education has increased the Expected Family Contribution for PELL eligibility (undergads only)

4. What is Direct Lending? Established in 1995 Established in 1995 Similar to FFELP in most ways Similar to FFELP in most ways Types of loans Types of loans Similar regulations Similar regulations Identical loan limits Identical loan limits Differences between DL and FFELP Differences between DL and FFELP No more private lenders No more private lenders No more required lender list No more required lender list Students borrow directly from the Department of Education Students borrow directly from the Department of Education

5. StudentLoans.gov

6. Starts With a Login Register for a login Register for a login Must have a PIN Must have a PIN The same PIN used for the FAFSA

7. Manage My Direct Loan Direct loan maintenance Direct loan maintenance Parent Direct loan Parent Direct loan Undergraduate Dependant

8. Tools and Recourses pin.ed.gov pin.ed.gov Login FAFSA Direct loan Entrance/Exit Interviews fafsa.gov fafsa.gov nslds.ed.gov nslds.ed.gov loanconsolidation.ed.gov loanconsolidation.ed.gov

9. Managing Repayment studentaid.ed.gov All you need to know about… All you need to know about… Deferment & Forbearance Deferment & Forbearance Loan Discharge and Forgiveness Loan Discharge and Forgiveness

10. Learn More studentaid.ed.gov studentaid.ed.gov All that is Direct Loan All that is Direct Loan Spanish Spanish

11. Completing the Direct Loan Promissory Note Sign in to StudentLoans.gov from the “Manage My Direct Loan” section. Provide the requested information then click “sign In”

12. Click "Complete Master Promissory Note"

13. Select the type of loan you’re applying for

14. Fill in the Blanks

15. Fill in School State & Name Address Will Auto-Populate

16. Provide Two Valid References

17. Review Terms & Conditions

18. Review Entire Note & Sign

19. Complete Entrance Counseling

20. Select Student Status

21. Review Guidelines

22. Fill in School State & Name Address Will Auto-Populate

23. Counseling Session & Quiz

24. Review Rights & Responsibilities Then Submit

25. Print Entrance Record

26. Helpful Websites www.StudentLoans.gov – One stop FA shop www.StudentLoans.gov – One stop FA shop www.StudentLoans.gov www.studentaid.ed.gov – General FA info www.studentaid.ed.gov – General FA info www.studentaid.ed.gov www.fafsa.gov – FAFSA completion and correction www.fafsa.gov – FAFSA completion and correction www.fafsa.gov www.pin.ed.gov – Electronic signature www.pin.ed.gov – Electronic signature www.pin.ed.gov www.nslds.ed.gov – FA history & exit counseling www.nslds.ed.gov – FA history & exit counseling www.nslds.ed.gov

27. Questions…

28. Financial Aid Contact Information General Telephone Numbers (626)397-1350(800)353-1350 General E-Mail address financial@pacificoaks.edu