Quick Answer: What is a requirement for obtaining a direct federal student loan?

Students must enroll at least half-time (6 credit hours for an undergraduate student) in order to receive a Federal Direct Loan (Subsidized and Unsubsidized Loans, and PLUS Loans). Repayment will begin after your grace period if you drop below half-time, graduate or withdrawal.

Which is a requirement for obtaining a direct federal student loan budget challenge quizlet?

Which is a requirement for obtaining a Direct federal student loan? Filing a Free Application for Federal Student Aid before the deadline.

What do you need to complete in order to qualify for a federal student loan quizlet?

To be eligible to receive federal financial aid, a student must complete a FAFSA. Cost of Attendance. This is the total cost of attending a college or university, including tuition, room and board, books, lab fees, transportation and basic living expenses. A deferment is an approved pause in repaying a student loan.

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What are the 4 basic forms of federal student loans?

There are four types of federal student loans available:

  • Direct subsidized loans.
  • Direct unsubsidized loans.
  • Direct PLUS loans.
  • Direct consolidation loans.

Which is true of direct student loan disbursements quizlet?

Terms in this set (10)

Which is true of Direct Student Loan disbursements? There is an origination fee when the loan is first disbursed. Which is a characteristic of a Stafford subsidized loan? … Which is a benefit of a subsidized federal student loan grace period?

What are deductibles quizlet?

What is a deductible? The amount of the loss you pay when you file an insurance claim before the insurance company pays any money.

What is true of overdraft protection ODP?

Which is true of overdraft protection (ODP)? It requires funds to be available from a linked account. Which would be a debit and reduce your bank account? Many employers offer employees direct deposit of their paychecks and encourage them to do so.

When planning for college you should consider?

Here are some of the top factors to consider when choosing a college.

  • Academic Majors Available.
  • Affordable Cost of Attendance.
  • Location, Location, Location.
  • On-Campus Facilities & Amenities.
  • Student Activities.
  • Career Services.
  • Do You Feel at Home on Campus?

Do both parents have to be listed on fafsa?

Keep the following in mind as you read this section: For FAFSA purposes, your married parents are separated if they are considered legally separated by a state, or if they are legally married but have chosen to live separate lives, including living in separate households, as though they were not married.

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What’s the form you have to fill out to apply for college financial aid from the federal government quizlet?

To apply for a federal student loan, you must first complete and submit a Free Application for Federal Student Aid(FAFSA®) form.

What is a Direct PLUS Loan?

Direct PLUS Loans are federal loans that graduate or professional students and parents of dependent undergraduate students can use to help pay for college or career school. PLUS loans can help pay for education expenses not covered by other financial aid.

What are the 3 types of federal student loans?

There are three types of federal student loans:

  • Direct Subsidized Loans.
  • Direct Unsubsidized Loans.
  • Direct PLUS Loans, of which there are two types: Grad PLUS Loans for graduate and professional students, as well as loans that can be issued to a student’s parents, also known as Parent PLUS Loans.

What is a direct subsidized loan?

Summary: Direct Subsidized Loans (sometimes called Subsidized Stafford Loans) are federal student loans borrowed through the Direct Loans program that offer undergraduate students a low, fixed interest rate and flexible repayment terms.

What does it mean when a student loan is subsidized quizlet?

Subsidized Loan. A federal student loan for which in some cases, a borrower is not responsible for paying the interest while in an in-school, grace*, or deferment period.

What document explains your rights and responsibilities as a federal student loan borrower?

Master Promissory Note

The MPN can be used to make one or more loans for one or more academic years (for up to 10 years). It lists the terms and conditions under which you agree to repay the loan in full and will explain your rights and responsibilities as a borrower.

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Why is a subsidized student loan more advantageous than a non subsidized loan?

Your school determines how much you can borrow based on a variety of factors, such as the cost of attendance and dependent status. With slightly better terms designed to help out lower-income students, subsidized loans are generally the less expensive option.