Direct Loans Lowell MA

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

Bay Path College
(781) 272-0222
123 Cambridge Street
Burlington, MA
Children's Literature New England
(978)2870538
63 Upland Road
Concord, MA
ITT Technical Institute-Woburn
(781) 937-8324
10 Forbes Road
Woburn, MA
The Van Emon Group
(781) 538-6650
5 Freeman Circle
Lexington, MA
Opinion Dynamics Corporation
(617) 492-1400
230 Third Avenue, 3rd Flr.
Waltham, MA
Bentley College
(781) 891-2000
175 Forest Street
Waltham, MA
Tufts University
(617) 628-5000
Ballou Hall - 2, Tufts University
Medford, MA
The Immigrant Learning Center, Inc.
(781) 322-9777
442 Main Street
Malden, MA
Beneficial Mortgage Co of Massachusetts
(978) 454-7761
97 Central St
Lowell, MA
Lowell Plan the
(978) 459-9899
11 Kearney Sq
Lowell, MA

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

Bay Path College

(781) 272-0222
123 Cambridge Street
Burlington, MA

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