Direct Loans Eagle River AK

This page provides useful content and local businesses that can help with your search for Direct Loans. You will find helpful, informative articles about Direct Loans, including "Understanding Direct Loans". You will also find local businesses that provide the products or services that you are looking for. Please scroll down to find the local resources in Eagle River, AK that will answer all of your questions about Direct Loans.

Colortyme
(907) 333-2121
6901 Debarr Rd
Anchorage, AK
 
Alaska District Engineers Federal Credit Union Eafb
(907) 753-5118
2204 3rd St
Anchorage, AK
 
Cash America Pawn
(907) 561-1630
2917 Spenard Rd
Anchorage, AK
 
Affordable Loan Company
(907) 562-7511
750 E Fireweed Ln
Anchorage, AK
 
Northern Skies Federal Credit Union
(907) 561-1407
400 W Benson Blvd
Anchorage, AK
 
Alaska Housing Finance Corporation
(800) 478-5558
4300 Boniface Pkwy
Anchorage, AK
 
BANK OF AMERICA ATM
(800) 432-1000
320 W 5th Ave Anchorage 5th Ave Mall
Anchorage, AK
 
Denali Alaskan Federal Credit Union
(907) 257-7200
440 E 36th Ave
Anchorage, AK
 
First National Bank Alaska
(907) 777-4663
101 W 36th Ave
Anchorage, AK
 
Money Mart
(907) 222-6724
5905 Lake Otis Pkwy
Anchorage, AK
 

Understanding Direct Loans

DIRECT LOANS

For the 2007-2008 academic year, 65.6 percent of al undergraduates received some form of financial aid. Of the 65.6 percent, nearly 40 percent received student loans. Although students may receive grants, which do not have to be paid back, they might not be enough to cover tuition costs, books, housing, and day-to-day living expenses. Student loan programs, such as the William D. Ford Federal Direct Loan Program , can help fill the gap.

Direct Loans are low-interest loans for students and parents. Direct Subsidized Loans for undergraduates with a first disbursement date between July 1, 2010 and June 30, 2011 have an interest rate of 4.5 percent. For graduate students Direct Subsidized Loans (no interest payments until after the grace period ends) have an interest rate of 6.8 percent and Direct Unsubsidized Loans (interest must be paid while enrolled) for all students have an interest rate of 6.8 percent. Direct Plus Loans have an interest rate of 7.9 percent.

Although the U.S. Department of Education is the Direct Loan Lender, the loan servicer is usually a private entity that is responsible for collecting, monitoring, and reporting loan payments. One such entity is American Education Services (AES) which was established by the Pennsylvania Higher Education Assistance Agency (PHEAA) to guarantee and service student loans for millions of borrowers across the U.S.

Direct Loans have loan limits and the limit depends on the year of study and whether the student is a graduate, undergraduate, dependent or independent. Direct Loan limits are as follows:

Dependent Student
1st-year undergraduate: $5,500 (maximum $3,500 subsidized)
2nd-year undergraduate: $6,500 (maximum $4,500 subsidized)
3rd- and 4th-year undergraduate: $7,500 (maximum $5,500 subsidized)

Independent Student
1st-year undergraduate: $9,500 (maximum $3,500 subsidized)
2nd-year undergraduate: $10,500 (maximum $4,500 subsidized)
3rd- and 4th-year undergraduate: $12,500 (maximum $5,500 s...

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