Direct Loan Disbursement Delay

Due to the change in USDE loan origination fees, students who were scheduled to receive their first (#1) Direct Loan disbursement prior to October 1, 2014, will have their disbursements delayed. The Boston Educational Network is in the process of re-originating all those loans due to this fee increase effective 10/1/2014. We anticipate the delay, for these students and these students only, to be two to three business days. The new origination fee rates for Subsidized and Unsubsidized Direct Loans are now 1.073% versus 1.072%, Plus loan origination fee rate is now 4.292% versus 4.288%.