The Direct Stafford program allows eligible students to borrow funds directly from the federal government with no credit check involved
Students generally begin repaying principal loan funds six months after graduating, withdrawing or ceasing half-time enrollment
In order to be considered for federal student and parent loans, students must first complete the Free Application for Federal Student Aid (FAFSA) by the specified deadlines.
Students must be enrolled at least half-time (6 or more credits for undergraduates; 4.5 credits for graduates) each semester to be eligible. Direct Stafford Loans can be awarded as subsidized, unsubsidized, or both based on financial need and level of study.
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Subsidized Direct Loans are awarded to undergraduate students based on financial need. Interest on the loan is subsidized by the federal government during the student’s enrollment and grace period.
Unsubsidized Direct Loans are non-need-based loans awarded to graduate and undergraduate students. Accrued interest is the responsibility of the student during enrollment and grace period.
First-time Direct Stafford Loan borrowers are required to complete an Entrance Counseling session and a Master Promissory Note (MPN) before loan funds can be disbursed. Both can be completed online at
*For undergraduate Direct Loans, the subsidized portion (based on need) cannot exceed: $3,500 for freshmen, $4,500 for sophomores, or $5,500 for juniors and seniors.
**Dependent students whose parents are unable to obtain a PLUS Loan are eligible for additional Unsubsidized Stafford Loans at the independent student level.
*Dependent students who were awarded additional Unsubsidized Stafford Loans due to parent’s ineligibility for PLUS Loans are limited to independent student aggregate levels. Continuar leyendo: “The Direct Stafford program allows eligible students to borrow funds directly from the federal government with no credit check involved” →
Publicado el 28/3/2022 Categoría Kentucky installment loan bad credit direct lender.
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