Direct Loans Bakersfield CA

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

All American Jewelry & Loan
(661) 325-2274
1809 Chester Ave
Bakersfield, CA
Globe Loan Jewelry Co
(661) 325-3353
1130 19th St
Bakersfield, CA
Bankers Home Loans
(661) 327-4663
1907 Brundage Ln
Bakersfield, CA
Loans for Less
(661) 328-0538
116 Brundage Ln
Bakersfield, CA
Balboa Thrift & Loan Association
(661) 631-4373
4620 California Ave
Bakersfield, CA
Countrywide Home Loans
(661) 397-2535
5101 Ming Ave
Bakersfield, CA
Equity 1 Loans
(661) 398-9382
5405 Stockdale Hwy No 108
Bakersfield, CA
Karpe Mortgage Loans
(661) 836-4444
4040 Ming Ave Ste C
Bakersfield, CA
Prestige Home Loans
(661) 324-2800
4700 Easton DR
Bakersfield, CA
Chevron Valley Credit Union
(661) 587-7250
8200 Granite Falls Dr
Bakersfield, CA

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

Featured Local Company

All American Jewelry & Loan

(661) 325-2274
1809 Chester Ave
Bakersfield, CA

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