This video is about the Subsidized & Unsubsidized Federal Direct Student loans and the Federal Parent Plus Loans. We discuss the Subsidized and Unsubsidized Federal Student loans from completing the Fafsa form. We also go into detail about the Parent Plus Loan. All to help you understand the process and help pay for the college cost.
We discuss where to complete the paperwork on studentloans.gov and what forms you need to complete like the master promissory note and the Entrance Counseling paper work on studentloans.gov to get the $5,500 federal student direct Subsidized & Unsubsidized Federal Direct Student loans. Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. A PLUS Loan is a student loan, which is part of the Federal Direct Student Loan Program, offered to parents of students enrolled at least half time, or graduate and professional students, at participating and eligible post-secondary institutions.The U.S. Department of Education offers eligible students at participating schools Direct Subsidized Loans and Direct Unsubsidized Loans. (Some people refer to these loans as Stafford Loans or Direct Stafford Loans.) To receive either type of loan, you must be enrolled at least half-time at a school that participates in the Direct Loan Program. Generally, you must also be enrolled in a program that leads to a degree or certificate awarded by the school. Direct Subsidized Loans are available only to undergraduate students who have financial need. Direct Unsubsidized Loans are available to both undergraduates and graduate or professional degree students. You are not required to show financial need to receive a Direct Unsubsidized Loan.
What types of federal student loans are available?
The U.S. Department of Education’s federal student loan program is the William D. Ford Federal Direct Loan (Direct Loan) Program. Under this program, the U.S. Department of Education is your lender. There are four types of Direct Loans available:
Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school.
Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.
Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.
Direct Consolidation Loans allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer.
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Online resources mentioned in the video:
Plus Loan & Master Promissory Note & Entrance Forms
www.studentloans.gov
Principia Prep has been around for almost 20 years helping families with the college process both admissions and financial aid.
#College #highschool #loans
3 окт 2024
