Loan Information and Processes

New Loan Program for the 2010-2011 Academic Year
(Fall 2010, Spring 2011)

New steps required for all borrowers

Beginning with Fall 2010, ABAC will participate in the Federal Direct Loan Program. Participation in Direct Lending provides a streamlined, high-quality, cost-effective and dependable loan program for ABAC families. The Federal Direct Loan Program includes: Subsidized Direct Student Loans, Unsubsidized Direct Student Loans, and Direct Parent PLUS Loans. Comprehensive information on these loans is available at www.direct.ed.gov.

To apply, complete the 2010-2011 FAFSA and ABAC Federal Direct Loan Request Form. To finalize student loans, students must complete the steps listed below.

STEPS	ACTION
Step 1	Complete and submit the ABAC Federal Direct Loan Request Form available at www.abac.edu/fa/forms.
Step 2	Complete Student Loan Counseling at http://studentloans.gov Be sure to complete the counseling for the correct loan program - “Stafford Loans".
Step 3	Sign the electronic Master Promissory Note (MPN) now or on receipt of your notice
Step 4	Register for at least 6 credit hours.