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What is a federal direct loans?
"They are loans from the U.S government commonly used for education loans. They are normally available in 2 types, Perkins (low income, many benefits) and Stafford (standard, unsubsized)."
Which students are eligible for Sallie Mae loans?
There are a lot of kinds of loans for students who are eligible for Sallie Mae loans. Some types of student loans at Sallie Mae are federal student loans, private loans, education investment planner.
Low Interest Student Loan?
Financing your education, whether you are attending a four-year college or university, community college, graduate school, or trade, career, or technical school is a difficult task. Fortunately, the U.S. Department of Education offers a wide range of low interest student loans which can help you and your parents cover the costs of your education. There are four main types of loans available to students and their parents: Federal Perkins Loans, Stafford Loans, PLUS Loans, and Consolidation Loans.The Federal Perkins LoanThe Federal Perkins Loan is a low interest student loan offered to undergraduate and graduate students who show significant financial need. The interest rate is fixed at 5% over a 10 year repayment period. The loan program is disbursed by the participating school and is made to students who are enrolled either full or part-time.The Stafford LoanThe Stafford Loan is a student loan offered to undergraduate and graduate students who are enrolled at least half-time in a institution of higher learning. Two types of Stafford Loans exist: subsidized and unsubsidized. A subsidized Stafford Loan does not accrue interest while a student is enrolled in school and is fixed at a rate of 6% for undergraduates and 6.8% for graduates. In order to be eligible for a Stafford Loan, a student must demonstrate financial need. On the other hand, an unsubsidized Stafford Loan accrues interest from the point that the loan is made. Unsubsidized Stafford loans are fixed at a rate of 6.8% for undergraduates and graduates.The Federal PLUS LoanThe Federal PLUS Loan, can be obtained either by parents to pay for the undergraduate education of their dependent children or by graduates students to pay for their own graduate or professional degree. Currently the interest rate for undergraduate loans is fixed at 8.5% and the interest rate for graduate loans is fixed at 7.9%.Consolidation LoanThe Consolidation Loan enables student and parent loan borrowers to consolidate multiple Federal education loans into one loan. Consolidation simplifies the repayment process, allowing borrowers to make one monthly loan.
What types of student loans are there?
There are many different types of student loans. Almost anyone can qualify. Most universities have loans through them, in which case you should check with the school's financial aid office. These loans are great because you do not pay for them until you graduate. Some banks will also offer loans for students.
What types of home loans are there?
There are a couple of types of home loans available. Some of those types include FHA loans, Fixed-Rate Mortgage loans, VA loans, and Interest-Only Mortgage loans.
What type of stafford lonas are there?
There are two main types of Stafford Loans: Subsidized and Unsubsidized. Subsidized Stafford Loans are available to undergraduate students with financial need, and the government pays the interest while the borrower is in school. Unsubsidized Stafford Loans are available to both undergraduate and graduate students, regardless of financial need, and the borrower is responsible for paying all interest.
What are the 4 types of financial aid available in regards to education?
There are different types of student loans available to college students for college: # Federal Subsidized Stafford Loans # Federal Unsubsidized Stafford Loans # Federal Perkins Loans # Federal PLUS Loans # Private/Alternative Student Loans Other sources of financial aid are: * Scholarships * Grants * Work-Study
What is a federal direct loans?
"They are loans from the U.S government commonly used for education loans. They are normally available in 2 types, Perkins (low income, many benefits) and Stafford (standard, unsubsized)."
What does UNSTFD loans mean?
UNSTFD stands for unsubsidized Stafford loan. These types of student loans typically charge 2 - 3 percent more interest than subsidized Stafford loans.
Is there an income requirement to qualify for FAFSA loans?
FAFSA has five types of federal loans available; most have income requirements, but not all. The loans that have income requirements are the Federal Perkins Loan and Subsidized Stafford Loans. The loans that do not have income requirements are PLUS loans (parents, or graduate and professional student), unsubsidized Stafford Loans, and consolidation loans. If a student is a dependent of their parents, the parents income will count towards meeting income requirements. Loans that are not income dependent do require good credit. http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp
What are 2 types of loans college students are eligible for?
Federal loans and federal grants.
Which students are eligible for Sallie Mae loans?
There are a lot of kinds of loans for students who are eligible for Sallie Mae loans. Some types of student loans at Sallie Mae are federal student loans, private loans, education investment planner.
Are there income limitations for Stafford Loans?
There are no income limits for unsubsidized Stafford loans.Subsidized Stafford loans are awarded based on need.There are two types of Stafford LoansStafford (Subsidized) - The interest portion of the loan is borne by the federal government. You can apply provided you spent at least half the time in school.Stafford (Unsubsidized) - Interest portion is to be paid even if the student is enrolled in the school. Offered to those with maximum borrowing capacity.
What types of student loans are available in the US?
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 and it helps that they offer more flexible repayment plans. It's a good idea to feel out the Free Application for Federal Student Aid (FAFSA) when applying for student loans to make sure you are eligible for a need-based loan.College Loans Based on Financial Need:Federal Perkins Loan:The Federal Perkins Loan is an institutional, campus-based loan that is administered directly by the financial aid office at each participating school. In this case, your school is the lender, even though the loan is made up of government funds. The Perkins Loan has a low interest rate, currently set at approximately 5%.Subsidized FFEL Stafford Loan:A FFEL Program Loan is one type of Stafford Loan. Funds from your Federal Family Education Loan (a.k.a. FFEL) Program Loan will come from a bank, credit union or other lender that participates in the program. You'll need to choose a lender if you obtain a FFEL Stafford Loan (today many lenders offer online loan applications). Schools that participate in the FFEL Program will usually have a list of preferred lenders. Because the loan is subsidized, the government pays the interest that accumulates on the loan while you are in school and during a six-month grace period after college.Subsidized Direct Stafford Loans:A Direct Loan (or the Federal Direct Student Loan Program) is another type of Stafford Loan and works similarly to the FFEL Program, only in this case the federal government is the direct lender. Similarly, the Subsidized Direct Stafford Loan means that the government will pay the interest while you are at school and for six months after college.College Loans Not Based on Financial NeedUnsubsidized Stafford Loans (FFEL Programs and Direct Loans):These loans basically work the same way as the subsidized Stafford Loans, except for one major difference: This time you have to pay the interest, although you can defer the payments until after graduation.Federal PLUS Loans (FFEL Programs and Direct Loans):This is a loan for parents, in which your parents take out a loan to pay for your schooling. PLUS Loans are available through the Federal Family Education Loan (FFEL) Program and the Direct Loan Program. The Direct Plus Loan comes directly from the U.S. Department of Education while the FFEL program works through a bank, a credit union or another lender that participates in the program. Generally, your parents can borrow up to the total cost of your attendance, minus any aid received. If the loan is approved (your parents must have an acceptable credit history), the money is sent directly to the school and repayment starts within 60 days after the final disbursement of the loan.Private or alternative loans:Private education loans are available to students, usually at higher interest rates than the federal loans described above. Colleges and universities may provide a list of private loan sources; you can check with banks or other financial institutions with which you have accounts to see if they apply. Although they are not necessarily considered college financial aid loans, for many families these loans are a key way to afford paying for college.
Low Interest Student Loan?
Financing your education, whether you are attending a four-year college or university, community college, graduate school, or trade, career, or technical school is a difficult task. Fortunately, the U.S. Department of Education offers a wide range of low interest student loans which can help you and your parents cover the costs of your education. There are four main types of loans available to students and their parents: Federal Perkins Loans, Stafford Loans, PLUS Loans, and Consolidation Loans.The Federal Perkins LoanThe Federal Perkins Loan is a low interest student loan offered to undergraduate and graduate students who show significant financial need. The interest rate is fixed at 5% over a 10 year repayment period. The loan program is disbursed by the participating school and is made to students who are enrolled either full or part-time.The Stafford LoanThe Stafford Loan is a student loan offered to undergraduate and graduate students who are enrolled at least half-time in a institution of higher learning. Two types of Stafford Loans exist: subsidized and unsubsidized. A subsidized Stafford Loan does not accrue interest while a student is enrolled in school and is fixed at a rate of 6% for undergraduates and 6.8% for graduates. In order to be eligible for a Stafford Loan, a student must demonstrate financial need. On the other hand, an unsubsidized Stafford Loan accrues interest from the point that the loan is made. Unsubsidized Stafford loans are fixed at a rate of 6.8% for undergraduates and graduates.The Federal PLUS LoanThe Federal PLUS Loan, can be obtained either by parents to pay for the undergraduate education of their dependent children or by graduates students to pay for their own graduate or professional degree. Currently the interest rate for undergraduate loans is fixed at 8.5% and the interest rate for graduate loans is fixed at 7.9%.Consolidation LoanThe Consolidation Loan enables student and parent loan borrowers to consolidate multiple Federal education loans into one loan. Consolidation simplifies the repayment process, allowing borrowers to make one monthly loan.
Does Wachovia offer loans for students?
Wachovia offers all types of loans for students. So need a litte help or a lot use Wachovia loans. Everbody qualifys for a loan. While in school no payment required.
Education Loans Explained?
Prospective or current college students who are interested in education loans will find there are many different options and resources. The key to taking advantage of educational loan opportunities is to know what is available in terms of loan types. First, it is important to understand the various types of education loans. Student loans fall into three primary categories. They are federal student loans, private education loans and consolidation loans. A federal student loan is the loan that most students are familiar with. These loans include Perkins loans, Stafford loans and PLUS loans. Each of these educational loans is government subsidized; however, they are taken out through banks and financial institutions. Two of the most common used for types of education loans for undergraduate students are Perkins and Stafford loans. These loans provide the benefit of low interest rates. This is because the interest rate on these loans is established by the government and is then controlled based on the current basis of the economy. Private student loans are not subsidized by the government and are instead offered by private banks and financial institutions. Students who are not able to demonstrate financial need and receive federal aid, may be able to receive the funding they need through a private lending program. Interest rates for these loans can vary based on a variety of factors, including the current economy and the student's credit background. It is important to note that in order to be approved for most private student loans you do need to have acceptable credit. Consolidation loans are most commonly used by students who have several educational loans and who wish to combine those loans into a single loan with one interest rate. The benefit to a consolidation loan is that you may be able to save money on interest. In addition, you can also benefit from paying the loans together in one payment each month, rather than in separate payments throughout the month. For students who wish to attend college, or continue their pursuit of a degree, education loans can provide the funding necessary to achieve one's goal.
