Students and parents who already have borrowed can receive account balances and repayment histories. Also included on this Web site are a repayment estimator, a forms bank, and a frequently asked questions and answers section. If repaying student loans on time is not enough of a reward in and of itself, the federal government just gave students another incentive. President Clinton announced a series of initiatives that will lower interest rates for millions of students who repay their student loans on time. For more details about these and other initiatives visit the The Direct Loan web site .
Direct deposit is now available in place of a refund check.
And, even if you have moved, your money will still find you. Complete the Direct Deposit Authorization Form and attach a voided check. Previously, a student had to complete a separate promissory note each year for each new loan borrowed. Now, the MPN may be the only note a student borrower will have to sign ever. One MPN which will be good for multiple disbursements for up to ten years.