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Frequently Asked Questions
What will happen to the
existing loans that I have borrowed from other lenders?
After graduation, you have a choice.
You may either make individual payments to your previous
lender(s) and to the Department of Education for your Direct
Loans, or you can consolidate your loans into one simple
payment. You may either consolidate all your loans with your
previous lender, or with the Department of Education.
However, many private lenders have discontinued their
consolidation services.
If I have previously borrowed under the FFELP Program, do
I have to complete another Master Promissory Note (MPN)?
Yes, you must sign a new Direct Loan
Master Promissory Note. Your Federal PIN is required in
order to E-Sign. You will not need to sign a new MPN each
year that you attend Trinity Valley Community College, only
the first year. The Direct Loan Master Promissory Note is
valid for Federal Direct (DL) Stafford Loans at educational
institutions participating in the Federal Direct Loan
Program for a period of 10 years.
Where can I go to consolidate my loans?
You may explore your options, as
discussed above, with either private lenders or with the
Federal Direct Loan Consolidation Program.
Will the change in loan programs cause my prior loans go
into repayment?
No, your prior Stafford loans will
not go into repayment as long as you remain enrolled at
least half time.
How do I contact the Direct Loan Program?
Direct Loan program: 1-800-848-0979
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