Direct Loans Springfield OH

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

Loan Zone
(937) 328-7290
1390 W 1st St
Springfield, OH
Rose City Fine Jewerlry & Loan Llc
(937) 323-5626
37 E High St
Springfield, OH
Fast Payday of Ohio
(937) 322-4505
2012 S Limestone St
Springfield, OH
Advance America Cash Advance
(937) 322-8771
2135 E Main St
Springfield, OH
Check Exchange
(937) 322-7808
1877 S Limestone St
Springfield, OH
Advance America Cash Advance
(937) 325-4703
1331 W 1st St
Springfield, OH
Beneficial Ohio Inc
(937) 325-2437
1029 N Bechtle Ave
Springfield, OH
Guardian Finance Co
(937) 323-1011
1151 N Bechtle Ave
Springfield, OH
Check 'n Go
(937) 325-6000
1611 E Main St
Springfield, OH
Springfield Pawn & Loan II
(937) 324-8008
2731 E Main St
Springfield, OH

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

ACE Cash Express

614-846-6731
5185 N High St
Columbus, OH

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