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Direct Loans Virginia

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 Max
(757) 455-8757
6109 E Virginia Beach Blvd
Norfolk, VA
American Funds Group
(757) 670-4500
5300 Robin Hood RD
Norfolk, VA
Premier Mortgage Capital
757-842-6871
445 N. Battlefield Blvd Ste E
Chesapeake, VA
Anthony's Pawn Shop
757-547-3222
801 Volvo Pkwy Suite 16
Chesapeake, VA
Countryside Mortgage
703-875-8680
2111 Wilson Blvd
Arlington, VA
Loan Smart
(757) 480-4760
7816 N Military Hwy
Norfolk, VA
Cash Express of Virginia
(757) 852-3536
1517 Azalea Garden RD
Norfolk, VA
Nathan's Lynnhaven Pawn Shop
757-468-5626
1194 Lynnhaven Parkway
Virginia Beach, VA
B & B Commercial Loan Brokers
757-497-7400
412 Kellam Rd
Virginia Beach, VA
Countrywide Home Loans
757-631-2402
2901 S Lynnhaven Rd
Virginia Beach, 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.

    ...

Click here to read the rest of the article at HowToDoThings.com

Author: B. Danesco

Featured Local Company

Loan Max

(757) 455-8757
6109 E Virginia Beach Blvd
Norfolk, VA
Read more about Direct Loans

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