The U.S. Department of Education offers students several federal loan options to help pay for college. These loans are designed specifically for students.
In addition to the parents of undergraduate students, PLUS loans are available to graduate and professional students. Direct Consolidation Loans When it comes time to repay student loans, the government offers direct consolidation loans, which you can use to combine two or more federal education loan...
Unlike other types of federal student loans and some private loans, there is no standard limit on the amount parents can borrow when taking out a Parent PLUS loan, a type of federal loan available to parents of dependent undergraduate students to help pay for education expenses not covered by...
Unsubsidized federal student loans are federally guaranteed loans are not based on financial need. Interest accrues when the loan funds are disbursed to the school. The unsubsidized student loan rate for undergraduate students and graduate students varies each year and is listed above. ...
Loan Amount Offered Under Federal Student Loans Educational LevelLoan Amount Undergraduate Students$5,500-12,500/year (subject to other factors) Graduate or Professional StudentsUpto $20,500/year For undergraduate students,these loans are divided into subsidized and unsubsidized loans, which have differ...
Types of Federal Direct Student Loans Direct Subsidized Loans Direct subsidized loans are for undergraduate students eligible for financial assistance due to their or their families' economic circumstances. These loans help to cover the costs of a professional career, school, college, or university. Qu...
Direct Subsidized Loans Direct subsidized loans, like most forms of federal financial aid for college, are available to undergraduate students with financial need, which is determined using a formula with the information provided on the FAFSA. The interest on these loans is covered by t...
As a graduate student, you may be eligible for two types of federal student loans: Direct Unsubsidized Loans: These loans are available to most graduate students, regardless of financial need. Unlike subsidized loans (which are only available to undergraduate students with financial need), interest...
Students and families planning to take out federal loans to pay for college this fall will see the highest interest rates in over a decade. The interest rate for direct federal undergraduate student loans disbursed after July 1, 2024 will be 6.53%, the Department of Education announced Tuesday....
House of Representatives passed a bill, known as the College Student Relief Act of 2007, that would halve the interest rate on subsidized Stafford loans for undergraduate students over a five-year period. Senator Edward M. Kennedy, the chairman of the Senate's education committee, has indicated...