answersLogoWhite

0

  • Personal Finance
  • Loans
  • Student Loans and Financial Aid
  • Money Management

How do you find out if you are eligible for a subsidized student loan?

User Avatar

Wiki User

βˆ™ 2006-07-29 13:19:16

Best Answer
Copy

Fill out the Free Application for Federal Student Aid. It can be found here: http://www.fafsa.ed.gov/ Good Luck. Henry

2006-07-29 13:19:16
This answer is:
πŸ€“
🀯
πŸ€”
User Avatar

Add your answer:

Earn +5 pts
Q: How do you find out if you are eligible for a subsidized student loan?
Write your answer...
Submit

Related Questions

What is a subsidized student loan?

A subsidized student loan is a loan in which the interest payments are subsidized. In general terms there is no interest added to the loan until it comes due for payment. A non-subsidized loan requires interest payments during the time a student is in school


Which loan is better unsubsidized or subsidized student loans?

Subsidized..... less interest and you pay after you get out


If you cosign a student loan will you still be eligible for a student loan for yourself?

YES


Where can you apply for a subsidized student loan for your college bound child?

They have to complete the FAFSA.


Can you apply for an undergraduate student loan after dropping out of a previous undergraduate study at a different university with all debts withstanding?

You can find out whether you are still eligible for a student loan using this: http://www.studentfinance.direct.gov.uk/calculator/studentfinancecalculator/ You might still be eligible for a maintenance loan but probably not a tuition fee loan.


What is the best federal student loan program?

There are many federal student loan programs to choose from. They include Federal Perkins Loan, Federal Direct Subsidized Loan, Federal Student PLUS Loan, etc. When it comes to deciding which is the best, it depends on one's circumstances.


Which type of financial aid does NOT begin to accrue interest until after a student graduates?

A subsidized loan


What is the purpose of direct loan?

A direct loan is a student loan that is made to the student directly by the federal government, which then subsidizes the interest on the loan while the student is in school. A direct loan is not a consolidation loan, neither for student loans or for people who have general debt. Direct loans are made to those who are determined eligible based on need, which is determined by FAFSA (www.fafsa.ed.gov). Keep in mind that student loans, once consolidated, are no longer "student loans" and as such are no longer eligible for any of the benefits of a student loan.


How can you find the lowest fixed rate for a student loan?

The lowest fixed rate for a student loan would be through the government and their subsidy programs such as their subsidized and unsubsidized loans. The unsibsidized loans provide the entire loan to accumulate no interest until the student has graduated from college providing thousands of dollars that would have been in interest to not occur.


Wage garnished student loan paid off can you get another student loan?

Yes, if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans.


Where can you find an uncertified student loan fast?

Where can you find an uncertified student loan for $45000.00?


Take Out Subsidized Federal Student Loans?

When taking out federal student loans, try to take out the maximum amount of subsidized loans possible. Subsidized loans carry a lower interest rate than non-subsidized loans. You can end up saving a lot of money in interest fees by taking out subsidized loans. You should always try to qualify for as much subsidized loan money as possible.


Where can I apply for student loan for online education?

You can apply for student loans for online education at banks. You can also apply for governments. To find out if you are eligible, fill out the FAFSA form.


Are direct loans a smart choice?

A direct loan is a student loan that is made to the student directly by the federal government. There is no secondary lender in the middle of the transaction. A direct loan is not a consolidation loan, neither for student loans or for people who have general debt. Direct loans are made to those who are determined eligible based on need, which is determined by FAFSA (www.fafsa.ed.gov). Keep in mind that student loans, once consolidated, are no longer "student loans" and as such are no longer eligible for any of the benefits of a student loan.


What are some steps to applying for subsidized loans?

To qualify for a subsidized loan one must be an undergraduate enrolled at least half-time in a degree program. Students will find it easiest to work with the college's financial aid office to obtain a subsidized loan.


An unsubsidized loan is always more expensive than a subsidized loan?

YES! Because interest accrues on an unsubsidized loan during periods when it doesn't accrue on a subsidized loan, the total cost of an unsubsidized loan is always greater than that for a subsidized loan of the same amount.


Can you apply for a private student loan before you apply for a grant?

Yes, but you should find out how much Grant money and Federal student loan money you are eligible for before applying for Private student loans. Grants are free and Federal student loans are cheap. Private student loans are very expensive. Avoid them if you can.


What are todays most common student consolidation loan rates?

The most common student consolidation loan rates would be around 3.40% for subsidized rates. For unsubsidized rates/graduate rates, it is around 6.80%.


What is the difference between a subsidized and an unsubsidized loan?

An unsubsidized loan has a higher interest rate than a subsidized loan and interest begins to accrue immediately.


Which financial institutions offer low interest rates on private loans for students?

If your daughter is not eligible for a subsidized loan, find out if you are eligible for an unsubsidized loan or a parent loan (PLUS). Otherwise, you may have to resort to a private lender. While you may be able to borrow money for school, these funds are not considered "student loans" in that there no subsidy, no verification of enrollment, etc. Depending on the bank's lending policies, you may be required to offer collateral. And the interest to borrow this money will be predicated on your credit worthiness and your relationship with the lender.


Do you have to repay a federal student loan?

Everyone has to repay the federal student loans. However some people are eligible, dependent on the job that they get after graduation, to have loan forgiveness for a portion of their loan. In that case they will only have to repay the portion of the loan that is not forgiven.


What does dlstfd loan mean?

Direct Subsidized Stafford Loan


If you default on a private student loan through a private lender not associated with your school or financial aid office are you still eligible for a federal student loan through your school?

Yes you are.


Applying for National Education Loans?

As the cost of tuition continues to increase, many families and students are taking out student loans to pay for education expenses. Federal student loans are available to undergraduate and graduate students. A student applies for a federally guaranteed student loan when completing the FAFSA. The student's school informs the student of the amount of financial aid awarded from the federal government. The loan amount is automatically applied to a student's account. Student loans must be repaid.Direct LoansThe federal government offers eligible students the opportunity to receive subsidized and unsubsidized loans under the Stafford Loan Program. Students who take out subsidized loans do not have the interest accrue until the student is no longer in school, and after the deferment period ends. The interest on an unsubsidized loan accrues while the student is in school. The amount of money a student can receive as a subsidized or unsubsidized loan depends on the student's classification and financial need.Perkins LoansSome students who cannot meet all of their financial obligations after receiving subsidized and unsubsidized loans may qualify for a Perkins loan. Students must be financially needy to qualify for a Perkins loan. The interest on a Perkins loan is low. In contrast to the Stafford Loan, the student's school functions as the lender for the Perkins loan. The amount of the loan is typically divided into two parts and applied to a student's account in the fall and spring semesters.Private LoansIndividuals who do not qualify for a federal loan can apply for a private loan with a national lender. Private loans can also help an individual bridge the gap between the cost of tuition and the amount of money received in federal financial aid. The amount of interest charged for private student loans is typically higher than the interest for taking out a federal student loan. Approval for a private loan is typically credit-based. Many lenders require students to apply using a co-signer with good credit to be approved for a private student loan.


What is the grace period of student 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 of your own student loans, at the National Student Loan Data System website in the related link. You can also find out how much your monthly payments will be for your loans while there.