Direct Loans East Greenwich RI

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 Fed Loan Center
(401) 885-2121
333 Main St
East Greenwich, RI
Capital Mortgage Corp
(401) 884-1860
4512 Post Rd
East Greenwich, RI
Northstar Financial Services Inc
(401) 886-1140
1050 Main St
East Greenwich, RI
Mortgage Consultants Inc
(401) 828-5160
21 Coventry Shoppers PA
Coventry, RI
Mortgage Network Inc
(401) 738-3344
Warwick, RI
Countrywide Home Loans
(401) 253-8210
99 Poppasquash Rd
Bristol, RI
Bencharge Credit Service of Rhode Island
(401) 769-1115
Woonsocket, RI
Greenwich Mortgage Company
(401) 274-4000
345 Hope St
Providence, RI
Rhode Island Credit Union
(401) 751-7440
160 Francis St
Providence, RI
Countrywide Full Spectrum Lending Division
(401) 739-4725
535 Centerville Rd
Warwick, RI

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

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Needham Bank

(781) 444-2100
1063 Great Plain Avenue
Needham, MA
http://www.needhambank.com/

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