Master Promissory Note
Starting with the 2009-2010 school year all Stafford loans, including parent PLUS loans, will be financed by Direct Lending. This means that you will not be choosing a lender - the lender is the U. S. Department of Education rather than a bank or financial institution.
Direct Loans are:
- Simple - You have a single contact - the Direct Loan Servicing Center - for everything related to the repayment of your loans, even if you receive Direct Loans at different schools.
- Convenient - You'll have online access to your Direct Loan account information 24/7 at Direct Loan Servicing Online at www.dl.ed.gov.
- Flexible - You can choose from several repayment plans that are designed to meet the needs of almost any borrower, and you can switch repayment plans if your needs change.
For information on the interest rate for your Direct Stafford Student Loan and your Direct Parent PLUS loan, click here.
