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For a student that is already enrolled in college to remain eligible for Federal Direct Student Loans they must maintain satisfactory academic progress in their course of study. Should they fail to do so, it is grounds to start the repayment plan. If this were to happen though the student would be notified before the loan simply went into repayment.
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Before acceptance, the school that the student is attending/enrolled in will have to certify that the borrower is eligible to receive the funds from the Federal Direct Student Loan. Schools can provide the students the money by issuing a cash or check, transferring the money electronically, or applying the sum directly to the student account at the school.
Repayment on Federal Stafford loans begin around six months after the student stops being enrolled in at least one-half the normal full-time academic course load. This can be either graduation or termination of the program by the student or school. For the other loans that are available under the Federal Direct Student Loans, repayment starts within 60 days after the student is no longer enrolled.
The total loans were $13,022,000,000 in 2007; approximately $14,103,000,000 in 2008; and approximately $14,867,000,000 in 2009. There were over 2.9 loans in 2007 alone.
For more information on Federal Direct Student Loans, the student can contact the Department of Education or the school that they attend/are enrolled in. Applications for the Direct Subsidized and Unsubsidized loans are obtained from the school. Direct consolidation loan applications are obtained from the Department of Education. http://www.direct.ed.gov/
Student Loans Available Directly from the Federal Government
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About The Author The author edits a site featuring Education Grants and another Government Grants site providing info on every grant the federal government offers. Michael Saunders has an MBA from the Stanford Graduate School of Business. |
Additional Government Grants Resources
Enhancing Awareness of Transportation and Transportation Careers Program
The Federal Highway Administration has recently established the Enhancing Awareness of Transportation and Transportation Careers Program wherein it seeks to solicit applications from eligible entities who have the desire to utilize the advances in technology in the noble process of informing and teaching middle school, high school and community college students and faculties regarding transportation and transportation careers.
Jail Resource Management: Review and Revision Program
The Federal Bureau of Prisons has recently constituted the development of the Jail Resource Management: Review and Revision Program wherein it intends to solicit applications for the revision of its existing Jail Resource Management Training Program.
Section 8 Housing Choice Voucher Homeownership Program
The Connecticut Housing Finance Agency has been administering the Section 8 Housing Choice Voucher Homeownership Program wherein they intend to offer home loans at reasonable, below-market rates to Section 8 tenants who wish to purchase a home of their own.
Special Research Grants Program - Pest Management Alternatives
The National Institute of Food and Agriculture has recently established the Special Research Grants Program - Pest Management Alternatives in an attempt to provide support for the development and implementation of integrated pest management practices, tactics and systems for specific pest problems while at simultaneously reducing human and environmental risks.
Government Grants for Housing Assistance
Do you have a bad credit record but want to get a house? the government just might help. Read this!...
Higher Education Challenge Grants Program
The National Institute of Food and Agriculture has recently constituted the Higher Education Challenge Grants Program in an attempt to boost and enhance the quality of formal, postsecondary-level agricultural sciences education.
First Time Homebuyer Programs in District of Columbia
The Department of Housing and Community Development, more commonly referred to as DHCD, is a local government agency in the District of Columbia that is primarily responsible for increasing quality housing and community development opportunities.
Social Entrepreneurship
Spotlight
When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.
