Federal Direct Loan

Federal Student Loan Debt Relief

The Annual Student Loan Acknowledgment is a helpful tool that supports student borrowers with planning their federal financial aid journey with up-to-date information about grants and federal loans. The Acknowledgement is not required, but is intended to provide students with information and resources to make informed borrowing decisions.

Annual Student Loan Acknowledgment | Federal Student Aid

  Here to Help


Wallace State Community College participates in the William D. Ford Federal Direct Loan Program.  The Direct Loan Program is where the U.S. Department of Education lends the money directly to students and parents through the student’s school.  There are two types of Direct Loans: Direct Subsidized Loans and Direct Unsubsidized Loans and Parent Loans for Dependent Undergraduate students are called Direct PLUS Loans.

Direct Loan Information Fact Sheet

Check Your Current Student Loan Balance-NSLDS

First-Time Direct Loan Borrowers Must Complete a Direct Loan MPN

  • If you have not previously received a Direct Loan, you must complete a Direct Loan Master Promissory Note (MPN). Although you may have previously signed an MPN to receive FFEL Program loans, a FFEL MPN cannot be used to make Direct Loans.
  • The MPN is the legal document through which you promise to repay your Direct Loans and any accrued interest and fees to the Department.  It also explains the terms and conditions of your loans.  A Direct Loan MPN can be used to make loans for up to ten (10) years.  You will need to complete a Direct Loan MPN electronically via the StudentLoans.gov Web site at http://studentaid.gov/.
  • To complete a Direct Loan MPN electronically, you must have a Federal Student Aid User ID (FSA ID).  The FSA ID is the same ID used to complete the Free Application for Federal Student Aid (FAFSA).  To apply for an FSA ID if you do not already have one, or for customer service regarding a previously assigned FSA ID, visit http://fsaid.ed.gov.


Student Loan Borrowers Must Complete Direct Loan Entrance Counseling
  • If you are an undergraduate or graduate/professional student you must complete Direct Loan Entrance Counseling before you can receive a Direct Loan.
  • You may complete Direct Loan Entrance Counseling electronically via the StudentLoans.gov Web site at http://studentaid.gov/.  A Federal Student Aid User ID is required to complete online Direct Loan Entrance Counseling.
  • For more information on how to complete Loan Entrance Counseling please visit the Loan Entrance Counseling Tutorial
Helpful Links
Servicer Telephone Number Fax Number Website
Nelnet 1-888-486-4722 1-877-402-5816 www.nelnetloanservicing.com
Great Lakes 1-800-236-4300 1-800-375-5288 www.mygreatlakes.org
Navient 1-800-722-1300 1-800-828-0250 www.navient.com
FedLoan Servicing (PHEAA) 1-800-699-2908 717-720-1628 www.myfedloan.org
MOHELA 1-888-866-4352 1-866-222-7060 www.mohela.com/schools
HESC/EdFinancial 1-855-337-6884 865-692-6376 www.edfinancial.com/clients
Granite State - GSMR 1-888-556-0022 603-227-5415 www.gsmr.org
OSLA Servicing 1-866-264-9762 1-855-813-2224 www.public.osla.org
Loan Consolidation 1-800-621-7394  



Completing Exit Counseling

Exit Counseling Pamphlet 

  • Provides important information you need to repay your federal student loan(s). 
  • Must complete if:
    • drop below half-time enrollment
    • Graduate
    • Leave School


Consolidating FFEL Program Loans into the Direct Loan Program

If you have multiple student loans you may be able to combine them into one loan with a fixed interest rate based on the average of the interest rates on the loans being consolidated. A Direct Consolidation Loan allows you to consolidate multiple federal education loans into one loan at no cost to you. Through your completion of the free Federal Direct Consolidation Loan Application and Promissory Note, you will confirm the loans that you want to consolidate and agree to repay the new Direct Consolidation Loan. Once the consolidation is complete, you will have a single monthly payment on the new Direct Consolidation Loan instead of multiple monthly payments on the loans you consolidated.

For more information: http://http://studentaid.gov/app/launchConsolidation.action

Student Loan Borrowers Must Be Aware of Scammers:

The U.S. Department of Education want to help borrowers prevent fraud or scams by criminals posing as debt releif agencies and more.

Title image that says “Know the signs to help you identify a scam by a student loan debt relief company

If you’ve seen an ad or received a call from a debt relief company promising to pay off your loans, don’t take them up on it.

The U.S. Department of Education (ED) offers some legitimate student loan forgiveness programs and ways to lower your student loan payments–all free to apply for through your official loan servicer.

For more information on avoding scammers, please visit the following department of educaton website: http://studentaid.gov/articles/student-loan-scams/

ITT Tech Students: To apply for loan forgiveness through a closed school discharge, you can either

  • complete and return the Closed School Loan Discharge Application sent to you by your loan servicer or complete this Closed School Loan Discharge Application and return it to your loan servicer, or
  • contact your loan servicer about the application process for getting your loan discharged.

If you are experiencing difficulty repaying your loans or are late on your loan payements, please call Borrower Connect at 1-866-497-8723 or email them at InTouch@studentconnections.org.  

For additional information about Direct Loans, visit http://studentaid.gov/understand-aid/types/loans or the Financial Aid office for more information.

Keisha Miller
Wallace State Community College
Phone: 256 352-8092
Fax: 256 352-8122