| AwardYear: 1998-1999 ChapterNumber: 3 ChapterTitle: Resources on the Web PageNumbers: 1-2 Essential Questions * Where can I find the Direct Loan Web Page? * What information is available to students? * What information is available to schools? Information Available to Schools and Students via the Web. The Department has a Direct Loan web site with extensive information for students and schools. The URL is http://www.ed.gov/DirectLoan For students: * Students who browse the Direct Loan web site will find all Direct Loan Guides, publications, and links to FAFSA Title IV School Code lists, Direct Loan deferment and forbearance forms, and Direct Loan consolidation information. * An interactive budgeting worksheet and calculator that allows a student to estimate financial needs and create a budget for school and living expenses. This calculator lists most of the critical items (tuition, books, scholarships, and family contributions) to help students consider all expenses and resources. After completing all of the appropriate entry fields, the student clicks "calculate" and total resources, expenses, and balance are computed for the academic year. The interactive budget worksheet is accessed by clicking on the "Interactive Calculator" link or on the "Financial Aid for Students" link. * With the Repayment Calculator, borrowers can compute the initial monthly payments he or she would make under each of the Direct Loan repayment plans. The borrower enters the amount borrowed, clicks on "calculate" and the repayment calculator will estimate monthly payments (total principal and interest for the life of the loan) for each of the Direct Loan repayment plans (Standard, Extended, Graduated or Income Contingent ). The repayment calculator is accessed by clicking on the "Interactive Calculator" link or on the "Financial Aid for Students" link. * A Direct Consolidation Loan calculator was added to the repayment calculator page in mid-summer 1998. This calculator has a data entry worksheet with entry fields for all loans that may be consolidated. The borrower inputs the amount of each loan he or she wishes to consolidate, then clicks "consolidate" to bring up a summary for each repayment plan. * Borrower Account Information. A borrower can access current loan information by entering Social Security Number, birthdate, and zip code. He or she can see his or her last loan payment and payment due date, and current balance. The borrowerÂ’s loan status (whether current, in forbearance, in deferment, or default) is also identified. Borrower Account Information is accessed through the "Financial Aid for Students" link. For schools: * A variety of documents are posted for financial aid administrators. The growing library of technical directives includes Direct Loan Bulletins and counseling guides, training calendars, Direct Loan newsletters, and a link to Direct Loan regulations and all Dear Colleague letters. * Other areas include information on Direct Loan consolidation, including downloading application forms, Direct Loan deferment and forbearance forms, FAFSA on the Web, Title IV school codes, links to GAPS and school links that link users to web sites of schools participating in the Direct Loan Program. * If your institution has a web site and would like the address added to the Direct Loan School list on the web, please send your schoolÂ’s name and web site address to erica_smith@ed.gov or joyce_rice@ed.gov. |