Federal Student Loans Programs

You can consider taking out a student loan while looking at ways to pay for college, a job, or technical school. A student loan is a money you borrow to cover your educational costs; you must repay it with interest.

Student Loan Types

Federal student loans are those provided by the federal government, whereas private student loans come from institutions, including banks, credit unions, state agencies, and educational institutions. Before considering a loan, educate yourself on the distinctions between federal and private loans.

Federal Loans for Students

Start with federal student loans if you need money to pay for college or career school. Compared to private loans, they are more affordable.

Types of Federal Student Loans Programs – Four different types of direct loans are available through the William D. Ford Federal Direct Loan (Direct Loan) Program:

Direct Subsidized Loans: Undergraduate students who qualify can receive direct subsidized loans depending on their financial needs.

Direct Unsubsidized Loans: Undergraduate, graduate, and professional students who qualify can get direct unsubsidized loans; these loans are not based on need.

Direct PLUS Loan: Graduate or professional students and parents of dependent undergraduate students are eligible for Direct PLUS Loans.

Direct Consolidation Loans: You can consolidate all your eligible federal student loans into a single loan with a single loan servicer using direct consolidation loans.

You must meet the basic eligibility standards and be enrolled in a school that participates in the student loan program to be eligible.

How to Apply

Fill out the FAFSA or Free Application for Federal Student Aid.

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