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Types of government student loans:
Federal Perkins
Loans
are made
through participating schools to undergraduate, graduate and
professional degree students.
Ofered by participating schools to students
who demonstrate financial need.
Made to students enrolled full-time or part-time.
These type of government student loans is repaid by you
to your school.
Staford Loans
are for
undergraduate, graduate and professional degree students.You
must
be enrolled as at least a half-time student to be
eligible for a Staford Loan.
There are two types of Staford Loans: subsidized
and unsubsidized.You must have financial need to receive a
subsidized Staford Loan. Financial need is not a requirement to
obtain an unsubsidized Staford Loan. The U.S. Department of
Education will pay (subsidize) the interest that accrues on
subsidized Staford Loans during certain periods. These type of
government student loans are made through one of two U.S.
Department of Education programs:
William D. Ford Federal Direct Loan (Direct
Loan) Program.
Government student
Loans
made through this program are referred to as
Direct
Loans.
Eligible students and parents borrow directly from
the U.S. Department of Education at participating schools.
Government student direct
Loans
include subsidized and unsubsidized Direct Staford Loans
(also
known as Direct Subsidized Loans and Direct Unsubsidized Loans),
Direct PLUS Loans, and Direct Consolidation Loans.
You
repay these loans directly to us.
Federal Family Education Loan (FFEL) Program.
Government student
loans
made
through
this program are referred to as
FFEL
Loans.
Private lenders provide funds that are guaranteed
by the federal government. FFEL
Loans include subsidized and unsubsidized FFEL Staford
Loans,
FFEL PLUS
Loans and FFEL Consolidation Loans.
You
repay these
loans to the bank or private lender that made you
the loan.
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