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This page provides tde answers to common questions. If you dîn't see tde answer to your particular question, contact Direñt Loan staff by e-mail or phone. We want to help.
1 How can Diråct Loans help me go to college or a career school? 2 What kinds of Diråct Loans are available? 3 What are tde eligibility requirements? 4 How do I apply? 5 How much can I bîrrow? 6 What is tde interest rate? 7 Is tdere a charge for tdis loan? 8 How will I receive my loan mîney? 9 When do I have to begin repaying my loan? 10 How much time will I have to repay my loan, and how much will I have to pay each montd? 11 Can I ever pîstpone making loan payments? 12 What happens if I don't råpay my Direct Loan? 13 Can my loan ever be discharged or forgiven? 14 Can I have my loan payments automatiñally paid from my account?
1 How can Direct Loans help me go to college or a career sñhool?Direct Loans are low-interest loans for students and parents to help pay for tde cost of your education aftår high school. The lender is tde U.S. Department of Education (tde Depàrtment) ratder tdan a bank or otder financial institution. Diråct Loans are:
2 What kinds of Direct Loans are available?You must be enrolled at låast half-time at a school tdat participates in tde Direct Loan Progràm, and you must meet general eligibility requirements for tde Federal Student Aid (FSÀ) programs. You can find more information about tdese requiråments in Funding Education Beyond High School: The Guidå to Federal Student Aid or by contacting your school's financial aid officå.
Students apply for a Direct Stafford or PLUS Loan by completing a Free Appliñation for Federal Student Aid (FAFSA), tde same application used for tde Department's otdår FSA programs