| The William D. Ford Federal Direct Student Loan | | | | undergraduates of $2,625 for entering freshman, |
| Program, also referred to as Direct Loan Program, is | | | | $3,500 for sophomores, and $5,500 for juniors and |
| a federal program offered by the US Department of | | | | seniors. So these loans will not take care of all |
| Education that provides loans to student without the | | | | expenses but they will still help considerably. |
| help of an intermediary institution. | | | | And as far as rates go the direct student loans have |
| This means that the loan comes directly from the | | | | a fixed interest rate that is published set every July |
| Federal Government, which is why it is called a direct | | | | 1st. It is usually a low rate, but because it changes |
| loan program. | | | | each year you will have to check to see what the |
| This federally backed program has helped more than | | | | current rate is. And it is also important to note that |
| 5 million students pay for college since it was | | | | there is a loan fee that can be up to 4% of each |
| founded in 1994. It gives students and schools an | | | | direct loan. |
| alternative to traditional guaranteed student loans and | | | | But the real exciting part of the loan is its repayment |
| it adds some healthy competition into the student | | | | flexibility. Most people do not land in the dream job |
| loan marketplace. | | | | right out of college so it is good to know that you |
| What You Get With The William D Ford Direct | | | | have some payment options and this program fits |
| Student Loan Program | | | | the bill. |
| These loan programs are some of the most sought | | | | If you are unable to pay off the loan amount in time |
| after loans because of their flexibility and low interest | | | | and you want to defer the payment, then there are |
| rates. | | | | number of provision for you to do so. |
| You are limited to maximum loan for dependent | | | | |