<p>I was offered for the following:
Direct Sub Stafford Loan $3,500</p>
<p>In the mail, the letter said that due to Congress getting rid of the previous loan program, my lender would be the US Dept. of Education. How will this affect me and be different from in the past?</p>
<p>I believe the letter said this this program was being terminated:
Federal Family Education Loan Program</p>
<p>It is the same loan except that instead of you choosing a private lender the loan will be handled through the school.</p>
<p>In the past a lot of schools already were part of the direct lender program. Some schools chose not to be so students had to find a private lender. Now all have to participate in the direct lender program and private banks can no longer make Stafford loans. </p>
<p>It won’t really have any noticeable affect on you other than the fact that you won’t have to try and figure out which lender to go with.</p>
<p>Thanks so much Swim! I just want you to know, that your help through the forums is greatly appreciated, and the countless of students that you have helped are grateful for all the knowledge you have passed.</p>