Direct Student Loan
The Direct Student Loan is a low interest student loan offering by U.S. Department of Education to help parent and student for education cost after completion of high school. In this loan program, there are 3 obvious facts :-
1) Directly deal with Federal Government, you may contact directly to the service center regarding the loan and payment matters.
2) They have offering various repayment plan that suit to almost any one. You are allow to change the repayment plan if you need to. Just liaise with the counselor, he / she shall advice the best plan to you.
3) You will be given a personal ID to check your account status and statement online.
Types of Loan offered by Direct Loan
1) Subsidized Loan - Provided for the student who has demonstrated the financial need. Determine by the federal regulation, "No" interest charge for this loan. It is quite difficult to acquire, anyhow you may apply other loan if not successful getting this loan.
2) Unsubsidized Loan - Interest will be charge for the loan. During grace period, deferment period and even time in school. But the interest rate is lower than most of the private loans.
3) Plus Loan - Unsubsidized loan for parents, dependent students, graduate and profession students. Interest is charged all the time.
4) Consolidation Loan - Direct Consolidation Loan, combine several federal student loans into one. A lot of students have utilized this program to lower down their loan debt and shorten the payment term.
For more student loan information, please check out Student Loans Guide instead of Direct Student Loan
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