Direct Loans Albuquerque NM

If you're applying to college or currently attending college, you or your parents may be eligible for a direct loan. The following article explains what these loans are and how you can get one.

Local Companies

Money Now
(505) 897-3278
6200 Coors Blvd NW
Albuquerque, NM
Sun Loan Company
(505) 831-1305
111 Coors Blvd NW Ste C2
Albuquerque, NM
Wallick and Volk Inc
(505) 823-1800
6755 Academy Rd NE
Albuquerque, NM
Bank of America
(505) 282-4400
6645 Caminito Coors NW
Albuquerque, NM
Bank of the West
(505) 271-9898
3201 Juan Tabo Blvd NE
Albuquerque, NM
Bank of the West
(505) 839-8290
6600 Central Ave SW
Albuquerque, NM
Bank of the West
(505) 271-9770
780 Juan Tabo Blvd NE
Albuquerque, NM
Fastbucks
(505) 881-2274
4701 Menaul Blvd NE
Albuquerque, NM
Cash Store
(505) 254-2274
333 San Mateo Blvd SE
Albuquerque, NM
Security Finance Corporation
(505) 881-4299
3401 San Mateo Blvd NE
Albuquerque, NM

Direct Loans

If you're applying to college or currently attending college, you or your parents may be eligible for a Direct Loan. These are government loans that will help defray the cost of your education. They must be repaid, but they can help people afford an education which would otherwise be unaffordable. If you're considering applying for a Direct Loan, here are some steps to take in the process:

  1. Get to know what a Direct Loan is. A Direct Loan is a loan for students wherein the college gets money directly (no pun intended) from the federal government. Not all colleges participate in this program. Direct Loans for students are usually called Stafford Loans. When the parent of the student takes out the loan, it's called a PLUS Loan. (Note: there's another similar loan called the FFEL Stafford Loan.)

  2. Differentiate between a subsidized or unsubsidized loan. There are two categories of these loans: subsidized loans and unsubsidized loans.

    A subsidized loan means you aren't charged interest until it comes time to pay the loan back. You get a subsidized loan if you qualify on the basis of need. The government calculates "need" as what your family can contribute, plus other sources of payment (scholarships, etc) plus Pell Grant Eligibility all subtracted from what it will cost you to attend.

    Unsubsidized loans, on the other hand, will cost you interest right from the start until you pay it off in full. You don't need to qualify on a need basis for an unsubsidized loan, rather, you just need to be a regular student (in school to earn a degree or certificate) in an "eligible program" (school that is in the Direct Loan Program) and meet some other eligibility requirements and things like "dependent" vs. "independent" student status.

    ...

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Author: B. Danesco

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