There are four types of Direct Loans:
- Federal Direct Stafford/Ford Loans (Direct
- Students must explain the financial need to receive
this type of loan. The federal government pays the interest on
these types of loans while students are in school for at
least half time and during certain periods.
- Federal Direct Consolidation Loans
- These loans combine one or more federal education loans in
one new Direct Loan. Only one monthly payment is made to the
U.S. Department of Education. In some cases students who have
loans under the Federal Family Education Loan Program may
consolidate them into Direct Loans.
Federal Direct Unsubsidized Stafford/Ford Loans (Direct
- Students can get these loans but they don't have to show
their financial need but will have to pay all interest
Federal Direct PLUS Loans
- Parents of dependent students can get these loans to pay
for their children's education. In this case student's parents
are responsible for all interest charges.
Graduated Repayment Plan
- Standard Repayment Plan
Income Contingent Repayment Plan
- Extended Repayment Plan
These are the four ways by which
a direct subsidized loan or direct unsubsidized loan can be
repaid. To repay a direct plus loan above three options are
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