UC Davis has been selected to participate in the new federal direct student loan program beginning in the 1995-96 academic year, and the campus financial aid director believes the program will streamline the loan process for students. "We think there are a lot of advantages to the way the federal government will subsidize the education of college students," says Ron Johnson, financial aid director. In addition to the reported advantages of reducing the up-front fees and providing additional repayment plans for students, Johnson says the federal plan will get the money to students faster when they need it the most, at the beginning of the academic quarter. In addition, he says, direct loans would be handled through the university as part of the financial aid process, thereby eliminating lengthy loan application procedures for students. Johnson, who oversees the distribution of more than $80 million in student aid annually at UC Davis, also thinks the new program will simplify administrative tasks for educational institutions.