Impending Changes to William D. Ford Federal Direct Loan Program
The Department of Education (ED) recently announced impending operational changes to the William D. Ford Federal Direct Loan Program, made necessary by the Budget Control Act of 2011. The changes include the elimination of up-front interest rebates and the elimination of graduate or professional student eligibility for Direct Subsidized Loans, effective for loan periods beginning on or after July 1, 2012. For more information regarding these changes, see EDís announcement. In addition, download OCAPís new flyer, Loan Changes: Borrower Impacts (PDF), which outlines some important changes effective July 1.