Why does schools now work with student direct lending i like sallie mae way better why can’t we choose?

Question by AngleRBeautiful: Why does schools now work with student direct lending i like sallie mae way better why can’t we choose?
sallie mae loans always gave out disbursements dates direct loans never do they say they don’t have that info which is a lie now i don’t know what’s going on with my loans cause my school won’t tell me anything they never did when i was with sallie mae i had to look at my account myself to see when my loans would disburse not i don’t know anything

Best answer:

Answer by Anonymous
The interest rates and fees were higher for DIRECT loans, and there were lots of bankers getting fat wallets at the expense of poor college students…. so the gov passed a law effectively eliminating that program. All student loans must go through your school now. Most schools have web-portal access to their financial aid records giving you internet access to your award letter, loan and grant amounts as well as disbursement dates. Not every school is going to tell you this right away.. they prob have it and you don’t even know about it.

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