Federal student loans are the most common type of student loan. There are four main types of federal student loans: subsidized, unsubsidized, parent loans, and consolidation loans. There are also private student loans, which generally have higher interest rates and stricter requirements. What Is t...
Federal direct student loans don’t require credit or income to apply. They are the most widely used college lending option. Read more Federal Parent PLUS Loan and Grad Plus Loan Review Federal PLUS loans let graduate students and parent borrowers fill tuition gaps not covered by other types of...
Student Loan Debt Statistics By Repayment Plan For Direct Loans There are 12.8 million borrowers with $233.5 billion of student loan debt in the Level Student Loan Repayment Plan (student loan repayment in 10 years or less), which represents the largest concentration of borrowers instudent loan re...
Student loan debt can have many long-term financial consequences that vary from person to person. For example, owing too much on student loans each month can make it more difficult to borrow money for other purposes, such as buying a home or a car. Large student loan payments can also mak...
However, dependent students with parents who are ineligible for a direct PLUS loan may be able to receive additional unsubsidized loan funds. Read: How to Pay for College Using These Overlooked Strategies. The current interest rate on direct subsidized loans is 5.5%, which is fixed o...
The article focuses on the student loan system in the U.S. Senator Edward M. Kennedy and California Representative George Miller have proposed to shift the bulk of student loans from private lenders to loans that come from the government. It is stated that problems for private lenders started ...
“J. Any payments I made on the loans I am consolidating (including any Direct Loans) before the date of consolidation will not count toward: • The number of years of qualifying repayment required for loan forgiveness under the REPAVE Plan, the PAYE Plan, the IBR Plan, or the ...
3.1.1 Stafford Loans The federal government offers Stafford loans to undergraduate and graduate students through the William D. Ford Federal Direct Student Loan (FDSL) program.18 Students are not charged interest on subsidized loans as long as they are enrolled in school, while interest accrues ...
Direct Subsidized Loans tend to have better terms for those with financial need.2 Subsidized loans also are more forgiving when it comes to paying the interest rate on the loan. The government pays the interest rate on the loan while you’re in school at least half-time, for the first...
Student loan debt by loan type All new loans originated by the federal government are part of theDirect Loan program: Direct Subsidized Loans, Direct Unsubsidized Loans, grad PLUS loans, parent PLUS loans and Direct Consolidation Loans. Because of this, Direct Loans make up the greatest portion...