Direct Loans Liverpool 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

Keybank
(315) 652-8266
3775 State Route 31
Liverpool, NY
Colban Funding Inc
(315) 451-3411
7515 Morgan Rd
Liverpool, NY
Keybank
(315) 652-8266
3775 State Route 31
Liverpool, NY
New York Business Development Corp
(315) 453-8195
290 Elwood Davis Rd
Liverpool, NY
Citifinancial
(315) 715-0218
8395 Oswego Rd
Liverpool, NY
Cit Sbl
(585) 223-9460
330 Packetts Lndg
Fairport, NY
Beneficial New York Inc
(518) 584-2505
137 Maple Ave
Saratoga Springs, NY
Saratoga Management Co
(212) 906-7800
535 Madison Ave
New York, NY
Beneficial New York Inc
(315) 764-0261
256 Main Stne St
Massena, NY
Dime Savings Bank
(718) 729-4600
45-14 46
Floral Park, 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.

    ...

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Author: B. Danesco

Featured Local Company

Center for Integrated Manufacturing Studies, RIT

(585) 475-5101
111 Lomb Memorial Dr., Bldg. 78
Rochester, NY

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