Beginning with Summer School 2010, UW-Platteville will participate exclusively in the Federal Direct Loan (subsidized and unsubsidized student loans), Federal Parent PLUS Direct Loan, and Federal Grad PLUS Direct Loan programs. Students and parents will use the Direct Loan program for all federal student and parent loans.
The traditional Federal Family Educational Loan Program (FFELP) loans (i.e., Stafford Loan, Parent PLUS Loan, and Grad PLUS Loan) through banks, credit unions, and other student loan lending companies will no longer be processed at UWP. Under the Federal Direct Loan program students will borrow from the federal government and lenders are eliminated from the picture.
As a result of many legislative changes over the past few years, as well as recent economic issues, it has been difficult for our students to stay with their FFELP lenders and in some cases find a FFELP lender to secure their loans. Additionally, many FFELP loans are being sold by lenders to the federal government. We are making this change so our students and parents will have federal loans available to them. We anticipate that this will be a more straight forward process for students and parents.
The Direct Loan program has been in existence since the early 1990's, so at this time UWP is joining an established loan program in order to continue to serve our students and parents.
We have compiled a list of questions and answers that should be helpful.
The Office of Financial Aid assists students with state and federal financial aid programs. Office personnel also provide budget and loan indebtedness counseling and help students find employment on and off campus. They also administer the UW-Platteville Scholarship Program.