American students can apply to the William D. Ford Federal Direct Loan (Direct Loan) Program, and parents of dependent students can apply for Direct PLUS Loans.
The U.S. Department of Education (the Department) lends the money directly to you through Acadia (OPE ID School # 00844900, FAFSA school code # G08449).
You will need to complete the Free Application for Federal Student Aid (FAFSA). We will use the information from your FAFSA to assist in determining your eligibility for a Direct Subsidized Loan and/or a Direct Unsubsidized Loan. You need to include our FAFSA School code (G08449) on your file in order for us to access your information.
If you already have FFEL Program loans and will now be receiving Direct Loans, consolidating your FFEL and Direct Loan program loans together into a Direct Consolidation loan may make loan repayment easier. If you consolidate, you will have just a single monthly payment.
Consolidating your FFEL Program loans into a Direct Consolidation Loan may also allow you to take advantage of certain benefits that are offered only in the Direct Loan Program, such as Public Service Loan Forgiveness and the Income Contingent Repayment Plan.
Direct Loans and FFEL Program loans have the same annual and aggregate loan limits, the same deferment and cancellation provisions, and most of the same repayment plans (Standard, Graduated, Extended, Income-Based). The interest rates for FFEL Program Stafford Loans and Direct Subsidized Loans/Direct Unsubsidized Loans are also the same.
However, Direct Loans also have some benefits that are available only in the Direct Loan Program:
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