Direct Loans Manassas VA

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

Commerce Bank
(703) 663-4400
2070 Chain Bridge Rd. Suite 135
Washington, DC
Ameriprise Financial
:7032260002
8133 Leesburg Pike
Washington, DC
Bank of America
(703) 330-3926
12881 Braemar Village Plz
Manassas, VA
First Horizon Home Loans
(703) 530-9211
7794 Donegan Dr
Manassas, VA
Bank of America
(703) 331-3030
8501 Sudley Rd
Manassas, VA
Loan Max Llc
(703) 331-1812
8375 Centreville Rd
Manassas, VA
Bank of America
(703) 330-3926
Braemar
Manassas, VA
Advance America Cash Advance
(703) 396-7117
8368 Sudley Rd
Manassas, VA
Aca Financial Llc
(703) 361-4011
10994 Sudley Manor Dr
Manassas, VA
Bank of America
(703) 331-3050
7701 Donegan Dr
Manassas, VA

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

Commerce Bank

(703) 663-4400
2070 Chain Bridge Rd. Suite 135
Washington, DC

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