IMPORTANT! Changes to the Federal Student Lending Process
With the recently enacted Health Care and Education Affordability Reconciliation Act of 2010 (HR 4872), the Federal Family Educational Loan (FFEL) Program has been eliminated. Private lenders, such as CODE Credit Union, no longer have a role in originating or funding federal Stafford, PLUS, or Consolidation loans.
Federal Direct Student Loans
Beginning July 1, 2010 all new federal student loans will be issued via the William D. Ford Direct Loan Program. The lender for your federal loans will be the U.S. Department of Education rather than your credit union.
Stafford and PLUS Loans: Visit the Department of Education website for information about Federal Direct Stafford and PLUS loans. It is suggested that you stay in close contact with your school’s Financial Aid Office to apply and monitor application status.
Consolidation Loans: You may have the opportunity to consolidate your existing loans through the Federal Direct Loan Consolidation Program. To view consolidation loan detail, visit the Department of Education consolidation loan website.
For Information on Existing Loans
For questions or service related to an existing Federal Family Educational Loan secured through our credit union, contact Great Lakes (our chosen servicer) at 1-800-236-4300 or access your account information online at www.mygreatlakes.com
For questions regarding who holds or services your existing federal student loan(s), please access the National Student Loan Database, which is a Department of Education central database for student aid.
Plan your future. Visit these Web sites.
Financial Aid Resources
www.studentaid.ed.gov - Detailed student aid and student loan info from the U.S.
Dept of Ed.
www.fastweb.com - Scholarship information.
www.fafsa.ed.gov - Online application for financial aid (FAFSA).
www.pin.ed.gov - Apply for a PIN number to complete online FAFSA.
www.mygreatlakes.com - Great Lakes Educational Loan Services, Inc. is the guaranty agency for your student loans. You can check the status of your student loans here.
www.nslds.ed.gov - View the history of the federal student financial aid you
have received.
www.loanlocator.org - Helps you keep track of your loans if you have more than one loan servicer. This site is useful when consolidating student loans.
www.finaid.org - Guide to student financial aid and scholarship search services.
www.collegeplan.org - Information on college selection, admissions, financial aid
and scholarships.
www.princetonreview.com/home.asp - Offers powerful college search tools, useful links, expert advice and guidance from an experienced college panel.
www.usnews.com/usnews/edu/college/cohome.htm - US News & World Reports college search and financial aid assistance.
Need help?
CODE is here to assist you in the student loan process. If you need help or have questions, please don't hesistate to contact us at 937/222-8971.
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