The William D. Ford Federal Direct Loan (Direct Loan) Program is a federal student loan program under which eligible students and/or parents borrow directly from the U.S. Department of Education at participating schools. If you apply for federal student aid, you may be offered one or more of these loans as part of your financial aid award. A loan is money that you or your parents (if applicable) must pay back with interest. If you do decide to borrow one of the federal loans listed make sure you understand the terms and conditions of the loans. For information on disbursement, see the button below: Receiving Aid