Direct Loans Lansing MI

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

Approved Cash Advance
(517) 321-4613
3025 W Saginaw St
Lansing, MI
Cashland
(517) 482-2063
2521 S Cedar St
Lansing, MI
Fifth Third Bank
(517) 372-7500
112 E Allegan St
Lansing, MI
1 First Class Inc
(517) 703-0840
5417 W Saginaw Hwy
Lansing, MI
Household Finance Corporation
(517) 321-4618
6007 W Saginaw Hwy
Lansing, MI
Flagstar Bank Banking Centers
(517) 487-1138
3225 Towne Centre Blvd
Lansing, MI
Beneficial Michigan Inc
(517) 882-1596
438 E Edgewood Blvd
Lansing, MI
Allied Cash Advance
(517) 272-7616
3280 S Waverly Rd
Lansing, MI
The Cash Store
(517) 622-4974
619 N Marketplace Blvd
Lansing, MI
Consumers Professional Credit Union
(517) 372-2400
525 W Willow St
Lansing, MI

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

Advance America

313-342-1060
13601 W 7 Mile RD
Detroit, MI

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