Direct Loans Louisville KY

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

Allied Home Mortgage Capital Corporation
502-400-2832
2520 Bardstown Rd., Suite 7
Louisville, KY
Action Loan Company
502-585-5200
143 W Market St
Louisville, KY
Aaron Mortgage Co Hikes Point
502-451-3002
2950 Breckenridge Ln
Louisville, KY
Class Act Federal Credit Union
502-964-7575
3620 Fern Valley Rd
Louisville, KY
Bob & Co Jewelry & Loan
502-966-0357
4904 1/2 Poplar Level Rd
Louisville, KY
A 1 Check Advance
502-955-5574
1679 Old Preston Hwy N
Louisville, KY
Norstar Mortgage Group
502-261-0477
9612 Taylorsville Rd Suite 204
Louisville, KY
Old Colonial Mortgage LLC
502-423-5400
2302 Hurstbourne Village Dr Ste 1200
Louisville, KY
First Federal Savings Bank
502-493-4004
6350 S Hurstbourne Pkwy
Louisville, KY
Fast Payday Loans of Kentucky
502-933-4147
10303 Dixie Hwy
Louisville, KY

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

Allied Home Mortgage Capital Corporation

502-400-2832
2520 Bardstown Rd., Suite 7
Louisville, KY
http://www.mylouisvillehomeloan.com

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SGMP's Annual Education Conference 2009
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