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
2012 University Center Economic Development Program CompetitionThe Economic Development Administration has recently established the 2012 University Center Economic Development Program Competition wherein they intend to solicit grant applications from higher education institutions stating their intent to establish and operate special University Centers that are focused on leveraging university assets in order to create regional economic ecosystems that will support high-growth entrepreneurship.
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.
Types of Financial Assistance From The Department of EducationThe US Department of Education was initially created to encourage the promotion of student achievement and their preparation for global competitiveness by way of fostering academic excellence and ensuring equal access to quality education.
Financing Your Education with Federal Supplemental Educational Opportunity GrantsFederal Supplemental Educational Opportunity Grants assist those undergraduate students enrolled in a postsecondary education that cannot afford their educational expenses without financial assistance. The grant is in place to help them meet their educational expenses to the successful completion of a postsecondary degree.