Direct Loans Windham ME

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

Keybank
(207) 892-9037
1 Landing Rd
Windham, ME
Maine Bank & Trust
(207) 892-8008
780 Roosevelt Trl
Windham, ME
Keybank
(207) 892-9037
1 Landing Rd
Windham, ME
Gardiner Savings Institution Fsb
(207) 443-3364
7 Chandler Dr
Bath, ME
Keybank
(207) 873-6821
305 Kennedy Memorial Dr
Waterville, ME
Countrywide Home Loans
(207) 262-2151
20 State St
Bangor, ME
Keybank
(207) 283-3631
2 Scammon St
Saco, ME
Keybank
(207) 945-0640
29 Bangor Mall Blvd
Bangor, ME
Keybank
(207) 799-6130
1234 Shore Rd
Cape Elizabeth, ME
Keybank
(207) 667-5566
82 Water St
Ellsworth, ME

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

Salem Five Bank

(978) 745-5555
210 Essex Street
Salem, MA
http://https://www.salemfive.com/

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