More than 1,150 Direct Loans totaling $2 million have been secured by IVCC students to help them pay for their college education, according to U.S. Department of Education statistics.
"We entered the program because it offered a streamlined process to provide quick, superior service to students. And it works," said Paul Crawford, financial aid director.
Crawford said the Direct Loan Program’s success is partly attributable to the ease by which students can obtain loans.
In contrast to the Federal Family Education Loan Program, the Direct Loan Program does not utilize a lender, such as a bank, nor does it involve guaranty agencies. Instead, the student borrow money directly from the federal government.
Under the FFELP program, the lender also may sell off the loan to a secondary market; however, with Direct Loans, students always know who they must repay.
More information about Direct Loans is available through the Financial Aid Office in A-214, ext. 438.