Direct Loans Bay Shore NY

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

Bank of New York the
(631) 231-8770
1650 5th Ave
Bay Shore, NY
Skyline Mortgage
(631) 968-9300
260 Montauk Hwy
Bay Shore, NY
Empire
(631) 666-1200
50 E Main St
Bay Shore, NY
Jp Morgan Chase Bank
(631) 231-8770
1650 5th Ave
Bay Shore, NY
Citifinancial
(716) 656-0081
4779 Transit Rd
Depew, NY
First Quest Equity
(516) 833-6832
208 Glen Cove Rd
Old Westbury, NY
Countrywide Home Loans
(631) 454-2009
330 S Service Rd
Huntingtn Sta, NY
Ulster Savings Bank
(845) 338-1678
280 Wall St Ste 1
Kingston, NY
Keybank
(716) 693-9000
4248 Delaware Ave
Tonawanda, NY
State Bank of Long Island
(516) 495-7600
960 Port Washington Blvd
Port Washington, NY

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.

    ...

Click here to read the rest of the article at HowToDoThings.com

Author: B. Danesco

Featured Local Company

PC Tech

317 Madison Avenue
New York, NY
http://www.getitnyc.com/

Related Local Events
Focused Coachings Admissions Boot Camp
Dates: 8/10/2009 - 8/17/2009
Location: Monmouth University - Bey Hall
West Long Branch, NJ
View Details

Eduexhibit USA
Dates: 10/24/2009 - 10/26/2009
Location: Prince George Ballroom New York
New York, NY
View Details

Eduexhibit USA
Dates: 10/24/2009 - 10/26/2009
Location: Prince George Ballroom New York
New York, NY
View Details

International Vision Expo East
Dates: 3/18/2010 - 3/21/2010
Location: Jacob K. Javits Convention Center
New York, NY
View Details

The International Conference on E-Learning in the Workplace (ICELW) 2009
Dates: 6/10/2009 - 6/12/2009
Location: Columbia University
New York, NY
View Details
Rate Article
     
Articles Insider

Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets