Student Loans Available Directly from the Federal Government
by:
Michael SaundersFederal Direct Student Loans are available to assist those vocational, undergraduate, and graduate postsecondary students (or their parents) and allows them to borrow money directly from the Federal government. This is done so that these students or their parents do not have to take out loans through private or other commercial lenders that oftentimes have much higher interest rates or simply will not provide a loan.
There are different variations of a Federal Direct Student Loan available; these are dependent on whether or not the student is eligible for government assistance. Need based programs include the Stafford Loan and the Direct Subsidized Loan; while non-need based programs are the Direct PLUS program, and the Direct Unsubsidized Loan.
Federal Direct Student Loans are overseen by the Department of Education. In order to be eligible for Federal Direct Student Loans the student is required to be a United States citizen or an eligible non-citizen (this means those with a Alien Registration Card or those with a Arrival Departure Record with specific designations).
To qualify for Federal Direct Student Loans the student must be accepted or currently already enrolled in a degree or certificate program. The student has to be at least a half-time basis undergraduate, graduate, or professional student at a postsecondary that participates with Federal Direct Student Loans. Students are not allowed to owe a refund on another a Title IV grant, and cannot currently have a Title IV loan that is defaulted. The student will also have to get a certification of eligibility from their school.
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Student Loans Available Directly from the Federal Government
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About The Author
The author edits a site featuring Education Grants and another Government Grants site providing info on every grant the federal government offers.
Michael Saunders has an MBA from the Stanford Graduate School of Business. |
Additional Resources
category - Education Grants
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USAID University Engagement through Higher Education Institution ProgramThe United States Agency for International Development has recently constituted the USAID University Engagement through Higher Education Institution Program wherein it seeks to hone the knowledge, research skills, and creativity of higher education campuses.
Summer Seminars and Institutes ProgramThe National Endowment for the Humanities has recently established the Summer Seminars and Institutes Program wherein it aims to provide support to faculty development programs in the field of the humanities for school, college, and university teachers.
Computing Education Grants Program for the 21st CenturyThe National Science Foundation has recently established the Computing Education Grants Program for the 21st Century (CE21), wherein the agency primarily aims to create a robust computing research community, as well as a computationally competent 21st century workforce, and ultimately, a computationally empowered citizenry.