Information about the Federal Direct Student Loan Program (also known as a Stafford loan) including eligibility requirements, interest rates for the subsidized and unsubsidized versions of the loan, and how to accept the loan if received.

Congressman DeFazio speaks about direct student loans. 09/22/2004
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President Obama outlined a plan to speed up help for millions of Americans struggling with the cost of higher education. Gwen Ifill discusses the president\’s effort to ease the burden of student loans with \”Generation Debt\” author Anya Kamenetz and Jeff Selingo of the Chronicle of Higher Education.
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A short video developed by Mika Mija Design for FreeFA.org to assist students and parents with the Federal Direct Loan and private loan application processes.
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Question by : Is it better to accept direct Federal student loans or ones offered through my University?
Also, what’d be the difference between a direct loan and any other loan?

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Question by Dr S: Can I consolidate a PLUS loan, my direct student loans and a private loan?
I have way too many loans. Thankfully I finished college and got a good job. I heard that since the PLUS loan is in my parent’s name and the rest are in my name, I cannot consolidate. Can anyone help me out here? thank you.

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Question by Kyle: What am I able to use my Federal Direct Student Loan to pay for?
I just received over $ 2000 in a student loan, but only about $ 1000 is going to go towards tuition and books. Am I able to do anything with the remaining funds?

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Answer by Serietah
You can spend it on anything necessary for educational purposes, i.e. a computer if you need one for school, car if necessary to get you to/from school, travel expenses, books, supplies, etc.

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Students loan debt consolidation is really a very efficient tool to ease individuals in the burden of debts, who’ve used numerous students loan from time to time, and now the burden of debts are so hefty that they don’t understand how to pay back the same. Obtaining good quality education has turn into a somewhat costly deal. Without doubt, college students loan are borrowed for a simple reason, but sometimes when you don’t focus on an effective setting up, it produces a large heap of debts that’s uncontrollable to handle and repay for you. It’s exactly where debt consolidation companies could be of great assistance to you.

Question by DayzToNitefall: Can I start paying off my direct student loans before the grace period?
This is my first time taking in a loan, so I don’t know much about it.
The direct student loans site has “Repayment” options, such as Standard, Graduated, and so on. Instead of going along with one of the repayment options, can I just make my own payment plan before the grace period?
Thanks in advance.

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Answer by Layla
There is no prepayment penalty on federal student loans. Ever.
If you don’t believe me, read this: http://www.finaid.org/loans/prepayment.phtml

Question by James: Where is the best place to find direct student loans?
I am attending UCSB in a month and it is going to cost me 7-8k per quarter. What loans would be best for me? Obviously direct subsidized loans would be the best, but is it better to get government loans or loans from the bank or where? Is there a website that compares different loan companies?

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Answer by susrsims
Citibank is the best student loan lender. Try their website 1st!

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