How can one get a federal direct loan?
There is a lot of information about getting a federal loan on the government websites, depending on your location. Most university websites also provide information on getting a federal direct loan, as it is most often aimed at students.
Getting a direct student loan online is not as complicated as one may think. There are a lot of links for student loans that are used as a means of solicitation but all a person has to do is visit FAFSA (FREE APPLICATION FOR FEDERAL STUDENT AID) or visit their States Department of Education's website and from there it is fairly uncomplicated to get a direct student loan online.
Almost all federal student loans can be consolidated under the Direct Consolidation Loan program. They offer multiple repayment plans and fixed interest rates. Private student loans that do not qualify for consolidation under the Direct Consolidation Loan can be consolidated through separate programs such as NextStudent, Student Loan Network, and Wells Fargo.
To find out what financial opportunities are available for new and current students, one should consult the prospective school's financial aid office. Some generic options are always available: * Financial Aid (provided by the specific school based on need and student characteristics) * Federal Family Education Loan Programs (FFELP loans) * Federal Direct Loan Programs (PLUS loans) * Federal Student Loan Programs (Stafford and Perkins loans) * Private Loan Programs (aka alternative loans)
This depends on the type of loan you have. For all Direct Subsidized & Unsubsidized loans, and all Federal Stafford Loans, you have a six (6) month grace period from your date of graduation before your first loan payment is due. However, if you have a Direct PLUS or Federal PLUS loan, these are due immediately afterward. You can find out answers to all of your student loan questions, as well as checking the status…
There are two broad categories of college student loans: loans based on financial need and loans not based on financial need. College loans based on financial need are advantageous because they have better terms and tend to have lower or fixed interest rates, which are subsidized (the government pays your interest while you are in college and for six months after you graduate). Therefore, you will not accumulate as much debt with a need-based loan…
"There are several ways one can get a consolidation loan. In the United States, there is a Federal student loan consolidation program that allows students to consolidate Stafford loans, PLUS loans, and Federal Perkins Loans into a single debt. One can also attain a consolidation loan through a private lender. However, the terms vary from lender to lender such as forbearances and deferments."
Direct loans are federal student consolidation loans. The government pays off your various student loans, then you pay the government directly, one payment each month. This is very convenient, for rather than making several payments each month for your student loans, you just make one, right to the Department of Education.
The Federal Home Loan Bank Act was passed in 1932 under President Herbert Hoover. Its purpose was to lower the cost of owning a home. It set up the Federal Home Loan Bank Board, which chartered and supervised federal savings and loan institutions. It also created Federal Home Loan Banks to lend to savings and loan institutions for financing home mortgages.