By:John Williams Direct loans are convenient, flexible and simple. A Direct loan is a loan by a lender to a customer without the use of a third party. This type of loan enables the lender to have greater discretion in the distribution of loans. Typically the lender is the U.S. Department of Education rather than a bank or financial institution. The federal government provides four types of direct loan financing. These direct loans vary in criteria and repayment schedules: • The Federal Direct Subsidized Stafford/Ford Loan is a direct loan, which means you do not pay the interest on the loan while you are school at least part-time. This particular type of Direct loan is based on the student financial need in accord with federal regulations. • The Federal Direct Unsubsidized Stafford/Ford Loan is a direct loan the government charges you interest while you are in school. The student does not need to be in extreme financial need to receive this type of loan. • The Federal Direct PLUS loan is a direct loan designed for parents without an adverse financial history who wish to borrow money for their dependent student. In order for a student to be dependent he or she may not be 24 years or older, a graduate or professional student, someone with legal dependents, an orphan or a ward of the court. Parents of independent students are not eligible to apply for this type of loan. • The Federal Direct Consolidation loan is a consolidation of one or more federal loans combined into a direct loan. A single monthly payment is made to the U.S. Department of Education. It is to the student’s advantage to consolidate, due to lower interest rates. Direct loans give you the simplicity of having one contact for concerns with your financial assistance. You are able to have access to your Direct loan information on-line 24 hours a day, 7 days a week. You are given the flexibility to choose your repayment options and are able to change your schedule as your needs change. Direct loans are convenient, flexible and simple. A Direct loan is a loan by a lender to a customer without the use of a third party. This type of loan enables the lender to have greater discretion in the distribution of loans. Typically the lender is the U.S. Department of Education rather than a bank or financial institution. The federal government provides four types of direct loan financing. These direct loans vary in criteria and repayment schedules: • The Federal Direct Subsidized Stafford/Ford Loan is a direct loan, which means you do not pay the interest on the loan while you are school at least part-time. This particular type of Direct loan is based on the student financial need in accord with federal regulations. • The Federal Direct Unsubsidized Stafford/Ford Loan is a direct loan the government charges you interest while you are in school. The student does not need to be in extreme financial need to receive this type of loan. • The Federal Direct PLUS loan is a direct loan designed for parents without an adverse financial history who wish to borrow money for their dependent student. In order for a student to be dependent he or she may not be 24 years or older, a graduate or professional student, someone with legal dependents, an orphan or a ward of the court. Parents of independent students are not eligible to apply for this type of loan. • The Federal Direct Consolidation loan is a consolidation of one or more federal loans combined into a direct loan. A single monthly payment is made to the U.S. Department of Education. It is to the student’s advantage to consolidate, due to lower interest rates. Direct loans give you the simplicity of having one contact for concerns with your financial assistance. You are able to have access to your Direct loan information on-line 24 hours a day, 7 days a week. You are given the flexibility to choose your repayment options and are able to change your schedule as your needs change. Article Source: http://www.redsofts.com/articles/ Check out the worlds first direct loans blogger. If you are considering a direct loan, read what he has to say. Your wallet will thank you! More Articles from Loans Category: Understanding Small Business Loans For Women Utilizing The Different Types Of Loans Available For Small Businesses How To Get A Business Loan Utilizing Options And Sources Of Cash For A Company Understanding Indemnity Agreements And Their Uses Understanding How And When To Use Business Credit Cards The Basic Requirements Of Getting Loans For A Business Best Tips To Get Short Term Loans For Students How to Obtain Business Loans Small Business Loans are a Big Deal – It Will Make the Difference Building Business Credit – The Number One Rule Small Business Loans for Women – Get Pointed in the Right Direction 4 Important Facts About Student Loan Consolidation Applying for a Business Loan – What You Should Know Consolidating Student Loans Under $10,000

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