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Direct Unsubsidized: Unlike Subsidized loans, these federal loans do not require students to demonstrate financial need and they are responsible for paying interest on the loan during all periods. If the student chooses not to pay the interest while in school, the interest will accumulate and be added to the principal.
The William D. Ford Federal Direct Loan (Direct Loan) Program: Eligible students may borrow up to $20,500 per school year. These loans are unsubsidized; Congress has determined that subsidized loans (no interest while enrolled) are only available to undergraduates.
The FFELP offers four types of loans: the subsidized Federal Stafford Loans, unsubsidized Federal Stafford loans, the Federal PLUS Loan for graduate students and for parents of dependent undergraduate students, and consolidation loans. [3] The main federal student loan is the Stafford Loan. There are two types of Stafford loans: Subsidized.
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Here's what students need to know about the two main types of federal student loans. ... 800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. For premium support please call:
Continue reading ->The post A Guide to Subsidized and Unsubsidized Loans appeared first on SmartAsset Blog. As you explore funding options for higher education, you’ll come across many different ...
The Health Care and Education Reconciliation Act of 2010 (HCERA) ended private-sector lending under the Federal Family Education Loan Program (FFELP) starting July 1, 2010; all subsidized and unsubsidized Stafford loans, PLUS loans, and Consolidation loans are under the Federal Direct Loan Program. [22]
Future students will likely need loans as well and should understand their options. ... 800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. For premium support please call: