Direct Loans Blue Island IL

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

First Cash Advance
(708) 396-0600
12601 Western Ave Ste F
Blue Island, IL
Midwest Title Loans Inc
(708) 824-1045
12047 Western Ave
Blue Island, IL
Americash Loans
(708) 535-9777
4818 W 148th St
Blue Island, IL
Instant Cash Advance
(708) 396-0600
12601 Western Ave Ste F
Blue Island, IL
Cashland
(217) 875-2158
2525 N Main St
Decatur, IL
Short Term Loans
(630) 293-0773
141 W Roosevelt Rd
West Chicago, IL
Regions Bank
(618) 566-2333
121 E Main St
Mascoutah, IL
Countrywide Home Loans
(217) 875-6380
2828 N Main St
Decatur, IL
Liberty Tax Service
(847) 429-1040
310 S McLean Blvd
Elgin, IL
Surety Finance
(773) 582-9211
8511 S Pulaski Rd
Chicago, IL

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

Bay View Federal Savings & Loan Assn

414-744-1831
3974 S Howell Ave
Milwaukee, WI
http://www.baywiewfederalsavings.com

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