Direct Loans are low-interest loans for students and parents to help pay for the cost of a student’s education after high school. The lender is the U.S. Department of Education (the Department) rather than a bank or other fi nancial institution.
Direct Loans are:
■ Simple—You borrow directly from the federal government and 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 hours a day, 7 days a week.
■ 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.
source: dl.ed.gov
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