Direct Loans Vicksburg MS

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

Advance America Cash Advance
(601) 636-2312
3403 Pemberton Square Blv Ste A
Vicksburg, MS
Pay Day Loan Stores
(601) 638-6077
Vicksburg, MS
Cash Cow
(601) 636-2274
2424 Clay St
Vicksburg, MS
Auto Title Loan Too Inc
(601) 636-7001
3427 Halls Ferry Rd
Vicksburg, MS
Vicksburg Credit Inc
(601) 634-0304
1403 Clay St
Vicksburg, MS
Tower Loan
(601) 638-7861
1990 S Frontage Rd
Vicksburg, MS
Americom Cellular
(601) 661-0888
2121 Clay St
Vicksburg, MS
National Cash Advance
(601) 636-7740
2839 Clay St
Vicksburg, MS
Bingo Payday Advance
(601) 619-0030
2415 Clay St
Vicksburg, MS
Cash N Titles
(601) 638-9300
Vicksburg, MS

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.

    ...

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Author: B. Danesco

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