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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The Future Leaders Exchange Program: Host Family and School Placement and MonitoringThe ECA has constituted the Future Leaders Exchange (FLEX) program wherein it seeks to promote mutual understanding between the citizens of the United States of America and the inhabitants of Eurasia by way of sending secondary school students from Eurasia to live in an American community for a full academic year.
Are You Eligible To Receive A Federal Student Aid?The Department of Education offers several types of educational financial assistance such as grants, federal loans, and work-study programs. It is very much essential for student to determine which type of assistance will best suit his/her financial needs.