Consolidating direct and non direct student loans

Federal student loans remain the most popular, and most accessible, of all education loans. Department of Education, and include the following programs: Federal Direct Stafford Loans are available in two forms, subsidized and unsubsidized.These government guaranteed loans offer low fixed interest rates, as well as generous repayment plans, making them the first choice for students looking to borrow money for their education. The Federal Perkins Loan is available to undergraduate , graduate and professional degree seeking students who can demonstrate the required level of financial need. Undergraduate students may borrow up to ,500 per year, while graduate students may borrow up to ,000 per year.Federal Direct Parent & Graduate PLUS Loans are entirely credit-based.Applicants must go through the standard credit checks associated with any private lender loan, and the better the credit history the more likely applicants are to be approved.Repayments plans on Federal PLUS Loans begin as soon as all funds have been disbursed.Graduate and degree seeking students can have their loans placed on deferment until six months following graduation, as long as they remain enrolled in classes at least half-time.

Applicants will receive a Student Aid Report, either electronically or by mail, which will outline any and all grants, loans and borrowing limits for which they have been approved.

Information needed to fill out the FAFSA includes: The information supplied on the Free Application for Student Aid will be used to determine the student’s Expected Family Contribution , as well as any and all financial aid programs for which they are eligible.

Students who are having difficulties understanding the FAFSA forms, or who require assistance with the paperwork, may want to consult their high school guidance counselor for assistance.

In addition to Federal financial aid for students, many state governments have loan programs in place to help residents meet any unmet need that has not been covered by grants, scholarships, Federal loans and private funds.

The degree and availability of these programs will vary, and students should consult their state’s Department of Education’s dedicated website for detailed information on what programs may be available to them.

Consolidating direct and non direct student loans