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Why did Thomas M. Cooley Law School choose to move to the Direct Loan program?

April 26, 2017cooley law school loan program

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Why did Thomas M. Cooley Law School choose to move to the Direct Loan program?

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On March 25, 2010, the U.S. House of Representatives and the U.S. Senate passed the The Health Care and Education Affordability Reconciliation Act of 2010 (“HCEARA”-H.R. 4872) . This bill makes major changes in several federal student aid programs AND mandates that, effective July 1, 2010, all federal student loans (Stafford, PLUS, and Grad PLUS) will be originated through the Federal Direct Loan Program. The Family Federal Education Loan (FFEL) Program, which permitted lenders to originate these loans, is eliminated effective June 30, 2010. President Obama signed the bill into law on March 30, 2010.