On March 30, 2010, President Obama signed into law the Health Care and Reconciliation Act(HCERA) of 2010.  This new law eliminates the Federal Family Education Loan Program (FFELP) and prohibits any new FFELP loans from being disbursed after July 1, 2010.  Asheville-Buncombe Technical Community College has been a participant in FFELP and all students who have received Federal Stafford Loans have received loans through FFELP.  All schools must now offer Federal Loans through the William D. Ford Direct Loan Program.  Asheville-Buncombe Technical Community College has been preparing for this transition and is eligible to participate in the Federal Direct Loan Program.

In order for students to comply with the new law and have loans disbursed under the Federal Direct Loan Program, all students who are interested in receiving  loans will need to make sure you have a 2010-11 FAFSA on file and completed by our office before we can process a Direct Loan for you.  Once your financial aid has been processed, you will be sent an award notification to your Web Advisor account.  If after reviewing your award letter you find the need to borrow loan funds, you must complete the steps listed on our website under the How to Apply for a Direct Loan.  You can complete a new Direct Loan Master Promissory Note and Direct Loan Entrance Counseling starting July 1, 2010.  Our website will be updated with information to complete the Direct Loan Master Promissory Note and Direct Loan Entrance Counseling.  Once these two steps have been completed, the student will need to bring to the financial aid office the 2010-11 Direct Loan Budget Worksheet so that we can complete your Direct Loan.  This worksheet will be available on our website at http://www1.abtech.edu/content/student-services/financial-aid/financial-aid-forms beginning July 1, 2010. 

Please complete this paperwork as soon as possible so that we can disburse your loans in a timely manner.

The Asheville-Buncombe Technical Community College Financial Aid Office will be available to help students complete the new paperwork and answer any questions about this transition. Please contact our office at 1-828-254-1921 ext. 7532 or cstansbury@abtech.edu for any questions or concerns.

Sincerely,


The Financial Aid Office