Federal Legislative Update for July 8, 2010
Chris Halling, system director for student financial aid, has prepared an update regarding the changes to federal financial aid programs. One of those changes includes direct lending. All new student loans for loan periods beginning after July 1, 2010 are being made through the Federal Direct Loan Program. Halling reports that the transition seems to have been relatively simple since most of the Minnesota State Colleges and Universities institutions have already been making Direct Loans and have offered assistance to those who are new to the program. It remains unclear until the start of fall semester if the U.S. Department of Education will be able to handle the increased volume. Click headline to read more.