As of June 14, 2010, SMU joined thousands of other U.S. higher education institutions in the William D. Ford Federal Direct Loan Program. As a result, all SMU students with federal Stafford, Grad PLUS and Parent PLUS loans will borrow their funds from one lender, the U.S. Department of Education, rather than a bank or other lending institution.
The change was mandated by the recently passed Student Aid and Fiscal Responsibility Act that terminates the Federal Family Education Loan Program as of July 1, 2010.
SMU’s Office of Financial Aid will keep the campus community informed of important updates and instructions through SMU e-mail. Students will be contacted by e-mail to inform them of any necessary steps to complete to ensure timely processing of their direct loans.
For more information, contact Enrollment Services, 214-768-3417.