Direct Loan Advice
A Direct Loan is a type of student loan offered by federal government and administered by Department of Education. This loan consists of Stafford Loan which for undergraduate students attending post-secondary institution. And Plus Loans, mainly for graduate students and parents.
In order to get the loan, below are some useful tips for your reference :-
1) First, you must complete the FAFSA form. The FAFSA is the application of Federal Loan. Documents need for the application are copy of the custodial parent’s federal taxes for the previous year, a copy of the student’s federal taxes for the previous year, and the Verification Worksheet if the FAFSA results were selected for verification.
2) You may borrow full amount of the loan which equal to $23,000, even your financial aid award does not included the loan or full amount.
3) Complete the one time loan counseling requirement and the Master Promissory Note before arriving on college. This will save you the hassle of doing all this during a busy school times.
4) There are many loan packages from the federal government, if you be offer a unsubsidized loan, the interest will be charge during school times. You may paying the interest while enrolled, this will enable you to save much money in long run. To avoid all these interests accumulate to your principal amount and incurred interest to be charge on interest.
Beside that, there are some grants and scholarship available from federal government. Check out all these financial assistance for your education. Grants and scholarships are not required to paying back, they are free.
For more information about other loans types, please check out Various Loans Guide instead of Direct Loan Advice
or Student Loan Guide for more student loans information.
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