what is a direct stafford student loan
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Stafford Loan A Stafford Loan is a student loan offered to eligible students enrolled in accredited American institutions of higher education to help finance their education.
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Subsidized vs. Unsubsidized Stafford Loans Subsidized vs. Unsubsidized Stafford Loans. 1  You are allowed to defer any payments until after you graduate. 2  If you do not demonstrate financial need for the Subsidized Stafford/Direct Loan, you may still borrow the same amounts under the Unsubsidized Stafford/Direct Loan. 3  Offers a maximum of $23,000 to students upon graduation.
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Direct Loans Subsidized Stafford loans are based on a demonstration of financial need. For a subsidized student loan, if the student is a dependent, the parents must meet financial eligibility requirements; if they are considered independent, they must meet the financial aid requirements on their own.
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8 things to know about federal student loans As the largest of the federal loan options, the Stafford loan program comes in two varieties -- subsidized loans, for low-income students, and unsubsidized loans, which are available to everyone. The difference is that with subsidized loans, interest isn't charged while the student is in school.
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Direct Subsidized Stafford Loans: How to Apply Summary: Direct Subsidized Loans (sometimes called Subsidized Stafford Loans) are federal student loans borrowed through the Direct Loans program that offer undergraduate students a low, fixed interest rate and flexible repayment terms.
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Master Promissory Note Direct Subsidized Loans and Direct Unsubsidized Loans William D. Ford Federal Direct Loan Program This document is the Repayment Schedule Disclosure Statement which is provided for in the promissory note(s) you signed under the Federal Family Education Loan Program or. William D. Ford Federal Direct Loan Program. You must repay your loan(s) in compliance with the schedule set forth below.
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Everything You Need to Know About Federal Stafford Loans You must be enrolled at least half-time in a graduate or professional. program (for example, a program that leads to a Master’s Degree or to a law. or medical degree) at a school that participates in the William D. Ford. Federal Direct Loan (Direct Loan) Program, and must meet all of the other.
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- STUDENT LOAN DEBT BURDEN. William D. Ford Federal Direct Loan (Direct Loan) Program / Federal Family. Education Loan (FFEL) Program / Federal Perkins Loan (Perkins Loan) Program. WARNING. : Any person who knowingly makes a false statement or misrepresentation on this form or on. any accompanying document is subject to penalties that may include fines, imprisonment, or both, under. the U.S. Criminal Code and 20 U.S.C. 1097.
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- This is one of the low-interest loans. that make up the William D. Ford. Federal Direct Loan Program (also. known as “Direct Loans”). The Direct. Loan Program enables students and. parents to receive funds directly from. the U.S. Department of Education to.
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Federal Direct Student Loans Federal PLUS Loan Limits. A parent may borrow up to the cost of attendance (established by the school) minus other financial aid including other student loans. Federal PLUS Loan Interest Rate. Direct PLUS Loans disbursed between July 1, 2014 and June 30, 2015 have a fixed interest rate of 7.21%. Federal PLUS Loan Fees Loans disbursed on or after December 1, 2013 and before October 1, 2014 will have an origination fee of 4.288%.
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Enrollment Services A student is eligible to be considered for the Federal Direct Unsubsidized Stafford Loan if they: 1  have a valid EFC on file in the Financial Aid Office. 2  are enrolled in an eligible program on at least a half-time basis. 3  have been awarded all subsidized loan eligibility.  are making satisfactory academic progress.
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Direct Stafford Loans Subsidized Stafford Loans are available to undergraduate students who demonstrate financial need. The government pays the interest on these loans while the student is in school and during deferment.
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Federal Student Loan Amounts and Terms For Loans Issued in 2015-16 The interest rate for undergraduate Stafford loans, both subsidized and unsubsidized, is 4.29%. Rates are fixed for the life of the loan. The interest rate for unsubsidized Stafford loans made to graduate students is 5.84%. Rates are fixed for the life of the loan.
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All About Stafford Loans Stafford Loans, as guaranteed by the Federal government, remain one of the safest, most beneficial and lowest impact student loans available. Qualifications for a Stafford Loan The first step towards qualifying for a Federal Direct Stafford Loan is to fill out and submit the Free Application for Federal Student Aid, or FAFSA. Most students will qualify for some form of financial aid but until you submit your FAFSA you will never know what is available to you.
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Subsidized vs. Unsubsidized Stafford Loans Stafford loans are low-interest loans that are offered by the government to help you pay for college. There are two types of federal Stafford Loans: Subsidized Stafford Loans and Unsubsidized Stafford Loans. Both types of loans offer fixed interest rates and allow up to 10 years to be paid back, but the Subsidized Stafford Loan has the best perks because it is offered to anyone who exhibits financial need.
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Subsidized vs. Unsubsidized Stafford Loans Subsidized vs. Unsubsidized Stafford Loans. Stafford loans are low-interest loans that are offered by the government to help you pay for college. There are two types of federal Stafford Loans: Subsidized Stafford Loans and Unsubsidized Stafford Loans.
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- The Federal Stafford loan is a student loan available to undergraduate and graduate students. The next two tables show the overall Federal Stafford loan limits for undergraduate and graduate students for loans first disbursed on or after July 1, 2008.
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Terms to Know Unsubsidized Federal Stafford Loans. Share this page. The unsubsidized Federal Stafford Loan is a federal student loan that is not based on financial need. Interest accrues on unsubsidized loans from the time the loan is disbursed by the school. If the borrower does not pay the interest as it accrues, it is capitalized (added to the loan balance). The interest is not paid by the federal government. This is the key difference between subsidized and unsubsidized student loans.
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Direct Stafford Loans Unsubsidized Unsubsidized Stafford Loans are available to undergraduate and graduate students with or without financial need. The interest is accrued and added to the loan balance while the student is in school.
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Direct Subsidized Stafford Loans: How to Apply The standard repayment term on Direct Loans is 10 years. However, you can qualify for a longer repayment term if you consolidate the loans or have more than $30,000 in federal student loans. Direct Subsidized Loans are eligible for all of the different repayment plans offered by the U.S. Department of Education.
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All About Stafford Loans Types of Stafford Loans: 1  The Subsidized Stafford Loan is a need based low interest student loan that is guaranteed by the US Federal government. Interest on this student loan is paid by the government for as long as the student remains enrolled in an accredited university or college.
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- Part of what makes student loans so complex is the sheer number of options. And if you don’t know which one you’re choosing, you could end up with the wrong one for your financial situation. The Direct Loan, also known as a Federal Stafford Loan, is one of the most common federal student loans.
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- Interest Rates and Fees. PLUS loans through the Direct Loan program have a fixed interest rate of 6.41%. The interest on the PLUS loan is not subsidized while the student is in school, unlike the subsidized Stafford and Perkins loans. The PLUS loan charges loan fees of 4%, deducted from each disbursement check.
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Direct Stafford Loans Share 0 0 0 0. Direct Stafford Loans are the most common federal student loans. Available to undergraduate, graduate, and professional students, these education loans are originated by the federal government and feature fixed interest rates, a 1.068% origination fee and various repayment options.
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What is a 'Stafford Loan ' DEFINITION of 'Stafford Loan '. A type of federal, fixed-rate student loan that was available to college and university undergraduate and graduate students attending college at least half-time.