Dear Members of the Scripps Community,
I have important and positive news regarding Scripps College’s financial aid opportunities in the 2010-11 academic year.
You may be aware that Congress is considering expanding the government’s role in student lending by increasing funding for Federal education loan programs and by discontinuing subsidies of private educational lenders. The US House of Representatives recently passed a measure in favor of direct lending, and the Senate is expected to review a similar bill later this year.
Scripps College is committed to providing our students and their families with access to the financial aid resources they need. After significant research and evaluation, the College has decided to participate exclusively in the Federal Direct Loan program beginning with the 2010-11 academic year. This means that all Scripps families will apply for their education loans through the Federal government rather than a commercial lender.
The Federal Direct Loan program offers students and their families more lending and repayment options, reduced interest rates, increased payment flexibility, and guaranteed financial security of their loans. The program provides Scripps College with a reliable source of readily available loan capital and eliminates the need to work with multiple lenders.
The Scripps College Office of Financial Aid will provide additional information and instructions about the Federal direct lending program in early summer 2010. In the meantime, there are several resources online to answer additional questions you may have. You can visit our financial aid website at scripps-staging.skybox0.com/directlending, the US government site at www.dl.ed.gov, or contact the Scripps College Office of Financial Aid directly at: (909)621-8275.
Sincerely,
Lori Bettison-Varga, PhD
President
Scripps College