Federal Student Loan Changes

Due to a change in federal law, all Federal Stafford, PLUS and Grad PLUS loans issued on or after July 1, 2010, will be through the William D. Ford Federal Direct Loan Program (Direct Loan). This change will only impact those federal loans issued on or after July 1, 2010.

Direct Loan funds will be disbursed directly to your school from the federal government rather than through Iowa Student Loan or another Federal Family Education Loan Program (FFELP) servicer or lender.

If you would like to apply for a Federal Stafford, PLUS or Grad PLUS loan that is first disbursed before July 1, 2010, and fully disbursed by Sept. 30, 2010, you must complete and submit your Master Promissory Note (MPN) before June 15, 2010.

To learn more about Direct Loan, please visit www.dl.ed.gov. Please contact your school's financial aid office if you have any questions.