Is direct loans a federal loan?
The William D. Ford Federal Direct Loan Program, which issues Direct Loans, is the U.S. government’s student loan program. These federal loans are available to undergraduate students, graduate students, professional students and parents of undergraduate students.
What are the four types of federal loans?
There are four types of federal student loans available:
- Direct subsidized loans.
- Direct unsubsidized loans.
- Direct PLUS loans.
- Direct consolidation loans.
What is the difference between direct and indirect student loans?
Student loans that the federal government provides or guarantees usually fall into two categories: Federal Direct Loans or Federal Family Education Loans (FFELs). FFELs are also called “indirect loans.” Private student loans, though, come from a bank, credit union, or private lender without government involvement.
How do I know if I have a federal direct loan?
Another way for you to determine if you have a federal loan is by accessing the National Student Loan Data System (NSLDS®) site using your FSA ID. The NSLDS site displays information on all federal loan and grant amounts, outstanding balances, loan statuses, and disbursements.
Are all Stafford loans direct loans?
Federal Stafford loans are often called Direct loans. Both terms refer to the same loans offered through the William D. Ford Federal Direct Loan (Direct Loan) Program.
What are the 3 types of federal loans?
There are three types of federal student loans:
- Direct Subsidized Loans.
- Direct Unsubsidized Loans.
- Direct PLUS Loans, of which there are two types: Grad PLUS Loans for graduate and professional students, as well as loans that can be issued to a student’s parents, also known as Parent PLUS Loans.
Is fafsa a federal loan?
The FAFSA is not a loan. It is an application form. However, you can use the FAFSA to apply for financial aid and federal student loans.
What’s the difference between a direct subsidized loan and unsubsidized loan?
Subsidized Loans do not accrue interest while you are in school at least half-time or during deferment periods. Unsubsidized Loans are loans for both undergraduate and graduate students that are not based on financial need.
Is Sallie Mae a federal loan?
All new Sallie Mae loans are private. But if you took out a Sallie Mae loan before 2014, it might have been a federal loan and is likely now serviced by Navient. Sallie Mae started off under the federal government and provided loans through the Federal Family Education Loan program, or FFEL.
What does direct loan unsubsidized mean?
A Federal Direct Unsubsidized Loan is a non-need based, low-interest loan with flexible repayment options. … The Department of Education has information about eligibility, borrowing limits, interest and fees, repayment information, and the latest federal student aid updates.