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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
Department of Agriculture: Value Added Producer Grants
The Value-Added Producer Grants program is geared towards helping the Independent Producers of Agricultural Commodities, Agriculture Producer Groups, Farmer and Rancher Cooperatives, and Majority-Controlled Producer-Based Business Ventures in developing techniques that would create marketing opportunities and establish business plans involving viable marketing opportunities that involve the production of bio-based products from agricultural commodities.
Types of Financial Assistance From The Department of Education
The US Department of Education was initially created to encourage the promotion of student achievement and their preparation for global competitiveness by way of fostering academic excellence and ensuring equal access to quality education.
Find the Government Grant that You Need
When you are looking for something, you at least have an idea what you are looking for. It will be easier if you know exactly what you want. This is how you shop for shoes and clothes. Apparently, it is the same technique used when finding a grant....
US Environmental Protection Agency: Russian Arctic Black Carbon, Reduction of Black Carbon from Diesel Sources
The Artic Black Carbon: Reduction of Black Carbon from Diesel Sources project offers a funding opportunity to interested applicants as they work towards assessing primary black carbon sources in the Russian Arctic.
Alabama Housing Finance Authority
The Alabama Housing Finance Authority, more commonly referred to as AHFA, is a public corporation which was established in the year 1980 under the Act No. 80-585 of the Alabama Legislature.
Child Welfare - Early Education Partnerships to Expand Protective Factors for Children with Child Welfare Involvement Program
In accordance with this mission, the Administration for Children and Families has recently established the Child Welfare - Early Education Partnerships to Expand Protective Factors for Children with Child Welfare Involvement Program.
Health Resources and Services Administration: Teaching Health Center Graduate Medical Education (THCGME) Program
The THCGME program provides payments to cover the cost of brand-new residency and dentistry programs in various community-based and ambulatory primary health care settings, such as health centers.
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.
