obama student loan plan

swimcatsmom
Mon, 21 Sep 2009 11:30:40 +0000

Private loans (assuming you mean private loans not Stafford loans issued by private lenders) shouldn’t be affected. Future FFELP Stafford loans will be replaced with all direct loans. Many schools already do all direct loans already - I think I read that @ 1/3 of Staffords are direct loans already.

FWIW my daughter’s school is all DLs and we have found them to be much simpler and less problematic that my son’s loans. For instance his lender stopped doing student loans this year and he had to find a new one. Then a whole bunch of people found their loans were not certified by the school in time so they were very delayed in receiving them - awkward for students who rely on them for living expenses, especially as the school is very slow to issue refund checks in the first place. Of course that might be because his school’s FA office is slightly less efficient.