What are examples of direct loans?

What are examples of direct loans?

There are four types of Direct Loans:

• Direct Subsidized Loans.
• Direct Unsubsidized Loans.
• Direct PLUS Loans.
• Direct Consolidation Loans.

How do I find my student loan payment history?

You can view your NSLDS information by logging into studentaid.gov. Your profile will provide personalized information like your federal student loan balance, disbursement dates and contact information. You can also view information on your federal loan servicer(s).

How do I know if my loans are direct?

You can contact 1-800-4-FED-AID, the federal student aid helpline, to determine if your loan is managed by any of them. If so, the helpline can connect you to your servicer for more information about your loan.

Do you have to pay back a direct loan?

Direct Subsidized Loans and Direct Unsubsidized Loans have a six-month grace period before payments are due. No payments are required during this six-month deferment period.

What is a direct subsidized loan?

Summary: Direct Subsidized Loans (sometimes called Subsidized Stafford Loans) are federal student loans borrowed through the Direct Loans program that offer undergraduate students a low, fixed interest rate and flexible repayment terms.

What are subsidized loans?

Subsidized Loans are loans for undergraduate students with financial need, as determined by your cost of attendance minus expected family contribution and other financial aid (such as grants or scholarships). Subsidized Loans do not accrue interest while you are in school at least half-time or during deferment periods.

Where can I find my student loan account number Great Lakes?

The number will be on your 1098-E Student Loan Interest Statement, which you can access by logging in to mygreatlakes.org and selecting My Accounts » Tax Filing Statements.

What is the difference between direct and Stafford loans?

What are Direct subsidized loans? Subsidized loans are available to low-income undergraduate students who demonstrate financial need. Currently, there are no subsidized student loans for graduate students. With subsidized Stafford student loans, you’re responsible for paying your principal balance and interest.

What is a unsub loan?

Unsubsidized Loans are loans for both undergraduate and graduate students that are not based on financial need. Eligibility is determined by your cost of attendance minus other financial aid (such as grants or scholarships). Interest is charged during in-school, deferment, and grace periods.

Who is eligible for direct unsubsidized loans?

Direct Unsubsidized Loans are available to undergraduate, graduate, or professional degree students enrolled at least half-time at a school that participates in the Direct Loan Program. Financial need is not required to qualify.

How does direct debit work for student loans?

Direct Debit is a convenient way to make your student loan payments—on time, every month. Direct Debit is a free service. You will also qualify for a 0.25% interest rate reduction upon approval of your application.

How can I pay my FedLoan loan over the phone?

Paying extra may place your loans into paid ahead status. You can make a payment over the phone any time, day or night, simply by calling 1-800-699-2908 and using our automated phone system. Please have your 10-digit FedLoan Servicing account number and date of birth handy for identification purposes.

How is the interest rate determined on a direct plus loan?

The interest rate for a Direct PLUS Loan is determined annually for new loans that are made between July 1 of one year and June 30 of the following year. Each loan will have a fixed interest rate for the life of the loan. View the latest interest rate information at

When does repayment start on a direct plus loan?

The repayment period for a Direct PLUS Loan begins immediately after you’ve received the last disbursement of the loan, while your child is still in school.