Direct Loans Oskaloosa IA

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

Check 'n Go
(641) 673-6466
209 Cornerstone Dr
Oskaloosa, IA
Instant Cash Advance Inc
(641) 672-1110
122 N 1st St
Oskaloosa, IA
Oskaloosa Home Loan & Savings Association
(641) 673-8328
Oskaloosa, IA
United Community Bank
(712) 728-2101
117 S Central Ave
Hartley, IA
Veridian Cu
(319) 236-6780
Waterloo, IA
Ace Cash Advance
(319) 752-7743
116 W Agency Rd
West Burlington, IA
First Class Credit Union
(515) 224-4300
2051 Westown Pkwy Ste A
West Des Moines, IA
First Bank
(515) 440-7190
1630 22nd St
West Des Moines, IA
Advance America Cash Advance
(515) 253-0900
3814 70th St
Urbandale, IA
Freedombank
(563) 864-7441
135 W Tilden St
Postville, IA

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

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