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Changes in Financial Aid Program for 2010-2011 School Year
Hampton University is participating in the Direct Loan Program for the 2010-2011 academic year and beyond. Every student or parent borrower must sign a new Direct Loan Master Promissory Note (MPN) for the 2010-2011 school year. This is a one- time requirement.
Students and or parents who have borrowed through the federal loan program in 2009-2010, or plan to borrow in the 2010-2011 school year, may obtain information at http://www.hamptonu.edu/studentservices/financialaid/gen_info/dloans_news.cfm.
HU financial aid office will provide periodic updates to help students and parents learn more about the anticipated changes of the Direct Loan Program delivery process. HU’s actions come as Congress considers eliminating the Federal Education Loan Program (FFELP). For those students who were part of the FFELP program, the Direct Loan program provides the same type of rights and benefits with regard to cancellation and forgiveness, repayments options and discharge.
In the past year, the U.S. Department of Education has successfully transitioned hundreds of FFELP participating schools into the Direct Loan Program. HU is confident it can do the same for its students.
“As director, I am fully confident that our transitioning into the Direct Loan Program can happen in an efficient and effective manner without any interruption of service for the upcoming academic year,” said Martin Miles, HU’s financial aid and scholarship director.
Reach out to the HU Financial Aid Office at 757.727.5322 for more information.