Direct Student Loans


Humans are born into the world with various advantages and disadvantages of each have become a normality. For example, there are times when a student is smart and eager to continue their education to pursue higher degrees, but constrained by the lack of sufficient funds to continue their education. While on the one hand, there are students of the all sufficiency of the material but no spirit to continue their education to pursue higher degrees. It is unfortunate if students are smart and talented it must cease to continue their education just because the problem is not availability of funds. But now the fund constraint is not a barrier for students to further their education because existing institutions that serve the direct student loans .

There are three main tips of direct student loans in the United States: Federal Student Loan, Parent Loans and Private Loans.
Federal student loan can be given directly to the University (Federal Perkins Loan), an authorized financial institution or a bank (the Federal Stafford Loan). In the first case of loans not subject to the students and the interest rate is very low (currently 5%). But getting money, it is necessary to obtain proof of the difficult economic situation. During his studies, the government pays interest on a secluded and after graduation, 9 months has been given a reprieve.
Parent loans is available for parents of prospective students if their dependents. The sum of these loans are limited to education costs. Parents must demonstrate their creditworthiness to obtain it. In general, the loan is granted for a period of 10 years. Payments under $ 50 a month from two months after the loan.
Private loans is used as compensation for the difference between the actual cost of education and government loans if necessary.

According to the financial situation of student Stafford Loans can be subsidized or not. In the case of state-subsidized loans assume the payment of interest during the study. Therefore, if the loan is subsidized, the student must pay his fall by itself. Thus, the works of student loans. It is also possible to mix option. Each case is considered individually. Many organizations that are authorized for loans for education and provide respite for the payment of up to six months after graduation.
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