Federal Direct figuratively speaking are long-term, low interest rate loans through the U.S. Department of Education. These are the biggest federal help program plus the programs you might be almost certainly to get in your help offer. There’s two types of Federal Direct Student Loans: Subsidized and Unsubsidized. The main differences are their monetary need needs plus the point from which interest starts to accrue, and graduate students are not eligible to borrow Subsidized Loans.
- Subsidized Loans need Financial Need and undergraduate status. No interest will accrue for a subsidized loan and no principal will likely be due before the end of the 6-month elegance period, that may begin once you graduate, leave the college, or drop below half-time enrollment.