((a)) ** In general** There are hereby made available, in accordance with the provisions of this part, such sums as may be necessary (1) to make loans to all eligible students (and the eligible parents of such students) in attendance at participating institutions of higher education selected by the Secretary, to enable such students to pursue their courses of study at such institutions during the period beginning ; and (2) for purchasing loans under . Loans made under this part shall be made by participating institutions, or consortia thereof, that have agreements with the Secretary to originate loans, or by alternative originators designated by the Secretary to make loans for students in attendance at participating institutions (and their parents).section 1087i–1 of this titleJuly 1, 19941994-07-01

((b)) ** Designation**

((1)) ** Program** The program established under this part shall be referred to as the “William D. Ford Federal Direct Loan Program”.

((2)) ** Direct loans** Notwithstanding any other provision of this part, loans made to borrowers under this part that, except as otherwise specified in this part, have the same terms, conditions, and benefits as loans made to borrowers under , shall be known as “Federal Direct Stafford/Ford Loans”.section 1078 of this title

((c)) ** Maximum aid** The maximum dollar amount of financial assistance provided under this part to a student shall not exceed the cost of attendance for such student.