July 29, 2008
Effective Fall 2008-2009 academic year, all Federal Stafford and PLUS loans processed for enrollment at St. Mary’s University will be funded through the William D. Ford Direct Loan Program. The Direct Loan Program provides assurance to students there will not be a delay or loss of funding based upon decisions made by a particular lender. The Federal Direct Loan Program does continue to consolidate federal student loans and offer loan forgiveness options available under Direct Loans. Due to our federal student loan change, all students must complete the direct loans Master Promissory Note. First-time borrowers must complete the Entrance Counseling Session. Once you have completed these processes, your loan funds are ready for disbursement.