What are the benefits in the direct lending program?

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Direct Loans uses the federal government as the lender. 

Federal student loans offer many benefits compared to other options you may consider when paying for college:

  • The interest rate on federal student loans is fixed and usually lower than that on private loans—and much lower than that on a credit card!

  • You don’t need a credit check or a cosigner to get most federal student loans.

  • You don’t have to begin repaying your federal student loans until after you leave college or drop below half-time.

  • If you demonstrate financial need, the government pays the interest on some loan types while you are in school and during some periods after school.

  • Federal student loans offer flexible repayment plans and options to postpone your loan payments if you’re having trouble making payments.

  • If you work in certain jobs, you may be eligible to have a portion of your federal student loans forgiven if you meet certain conditions.

 

https://studentaid.gov/understand-aid/types/loans

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Article ID: 21174
Created
Wed 12/7/16 2:50 PM
Modified
Thu 10/26/23 7:14 PM