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Wysłany: Sob 4:06, 23 Lis 2013 Temat postu: Direct Student Loan Basics |
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can Direct Student Loans help pay for college or career school expenses?
Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education (the Department) rather than a bank.
Direct Loans are:
Simple-You borrow directly from the federal government.
Flexible-You can choose from several repayment plans that are designed to meet the needs of almost any borrower, and you can switch repayment plans if your needs change.
What kinds of Direct Loans are [url=http://www.ugg-boot-2013.com/]Uggs For Sale[/url] available?
Direct Subsidized and Unsubsidized Loans- Your eligibility for Direct Subsidized and Unsubsidized Loans is based on the information reported on the Free Application for Federal Student Aid (FAFSASM). No interest is charged on subsidized student loans while you are in school at least half-time, during your grace period, and during deferment periods. Interest is charged on unsubsidized loans during all periods.
Direct PLUS Loans-Direct PLUS Loans are low interest loans available to parents of dependent students and to graduate and professional degree students. Interest is charged during all periods.
Direct Consolidation Loans - Direct Consolidation Loans are loans for borrowers who want to combine their eligible federal student loans into a single loan.
What are the eligibility requirements?
You must be enrolled at least half-time at a school that participates in the Direct Loan Program, and you must meet general eligibility requirements for the Federal Student Aid programs. You can find more information about these requirements on the Direct Loan website or by contacting your school's financial aid office.
How do I apply for aid?
You apply for a Direct Subsidized and Unsubsidized Loan and other federal student aid by completing a [url=http://www.ugg-boot-2013.com/]Ugg Boots For Women[/url] Free Application for Federal Student Aid (FAFSA). The information from your application will be shared with the schools that you have identified on the FAFSA. Some schools have additional application procedures-check with your school's financial aid office to be sure. After your FAFSA has been processed, the school will notify you, usually through an award letter, of the types of aid for which you are eligible.
How do I take out a Direct Loan?
You must complete a Master Promissory Note (MPN). The MPN is a legally binding agreement to repay your loan to the Department. In most cases, one MPN can be used for loans that you receive over several years of study. Before receiving your first Direct Loan, you must sign an MPN that you'll get from your school or from the Department. Check with your school's financial aid office.
How much can I borrow?
The maximum amount you can borrow each school year depends on your grade [url=http://www.ugg-boot-2013.com/]Uggs Black Friday[/url] level and other factors. It ranges from $5,500 per year for a dependent freshman to $20,500 per year for a graduate or professional degree student; however, the actual amount you are eligible to borrow each year is determined by your school and may be less than the maximum amount. There are also limits on the total amount of your loan debt. Graduate and professional degree students who need to borrow more than the maximum subsidized or unsubsidized loan amounts to meet education expenses not covered by other financial aid may be eligible to [url=http://www.ugg-boot-2013.com/]Cheap Ugg Boots[/url] receive a Direct PLUS Loan.
What is the interest rate?
Direct Loans have a fixed interest rate that differs depending on the loan type and other factors. Check with your school's financial aid office or the Direct Loan website for details and current interest rate information.
Is there a charge for this loan?
Yes. In addition to interest, you pay a loan fee that is a percentage of the principal amount of the loan. We deduct the fee before you receive any loan money, so the loan amount you [url=http://www.ugg-boot-2013.com/]Ugg Boots Outlet[/url] actually receive will be less than the a
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