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Financial Aid 101

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Federal Direct Loan Program

What is the Federal Direct Loan program?

The Federal Direct Loan Program provides federally insured, low-interest, long-term loans to you or your parents to help you cover the costs of attending college. The federal government is your lender, not a bank or other lending institution, and makes the loan directly to you or your parents through the school. The school determines your eligibility, calculates the loan amount, and disburses the money. Once the loan is made, it is managed and collected by the U.S. Department of Education. Your direct loan is money that is borrowed and must be repaid with interest after you leave school.

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The City University of New York

Borough of Manhattan Community College
The City University of New York
199 Chambers Street, New York, NY 10007
212-220-8000 | Directory

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