Direct Loans Chevy Chase MD

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

Chevy Chase Bank
(202) 463-1471
7501 Wisconsin Ave.
Bethesda, DC
Urban Trust Bank
(800) 584-0015
3 Bethesda Metro Center
Bethesda, DC
Industrial Bank
(202) 722-2000
4812 Georgia Ave., NW
Washington, DC
The Bank of Georgetown
(202) 355-1213
1054 31st St., NW
Washington, DC
City First Bank of DC
(202) 243-7100
1432 U St., NW
Washington, DC
World Bank
(202) 473-1000
1818 H St., NW
Washington, DC
The Adams National Bank
(202) 772-3600
1130 Connecticut Ave., NW
Washington, DC
HSBC Bank USA, NA
(202) 496-8740
1130 Connecticut Ave., NW
Washington, DC
Independence Federal Savings Bank
(202) 628-5500
1229 Connecticut Ave., NW
Washington, DC
M & T Bank
(202) 434-7026
1350 Eye St., NW
Washington, DC

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

Chevy Chase Bank

(202) 463-1471
7501 Wisconsin Ave.
Bethesda, DC

Related Articles
Related Articles
Related Local Events
CMBR Education-TBA
Dates: 10/8/2009 - 10/8/2009
Location: HBAM Conference Center
Baltimore, MD
View Details

2009 CEFPI Annual World Conference & Expo - Council Of Educational Facility Planners International
Dates: 9/27/2009 - 9/29/2009
Location: Marriott Wardman Park Hotel
Washington, DC
View Details

Fermentation Microbiology and Downstream Processing Workshops
Dates: 6/8/2009 - 6/12/2009
Location: University of Maryland's Bioprocess Scale-up Facility (BSF)
College Park, MD
View Details

Cultural Diversity Workshop
Dates: 6/2/2009 - 6/2/2009
Location: Radisson Hotel at Cross Keys
Baltimore, MD
View Details

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 World History