Federal direct subsidized loan for student
This is a federal direct subsidized loan for student loan made based on your financial need and other specific eligibility requirements
. You may borrow up to the cost of attendance minus the expected family contribution and any other aid received. Refer to the table below.
However, the fixed interest rate for loans in the deferment or six-month grace period as of July 1, 2008, is as follows:
6.0% for undergraduate loans first disbursed July 1, 2008, and after
6.8% for graduate loans first disbursed July 1, 2006, and after
6.8% for undergraduate loans disbursed July 1, 2006 through June 30, 2008.
2% origination fee minus 1.5% rebate is subtracted prior to disbursement, effective July 1, 2008
Subject to
annual and aggregate loan limits This is a loan you must repay to the U.S. Department of Education
Complete the
student financial aid adjustment form if you wish to cancel your loan or return funds you do not need.
After you have accepted your federal direct subsidized loan, you will receive a "Federal Direct Loan Disclosure Statement" from the Direct Loan Servicing Center or WMU.
When to Apply for a Loan.
You should apply for a loan only after careful consideration of all other options for financing your education. If you find you have to interrupt your studies, you could face having to repay your loan without the education you went into debt to obtain. And after you have submitted your loan request, your request will be processed after the Direct Loan staff has determined that:
a. you have filed a FAFSA for the current academic year;
b. the information you provided on your FAFSA is correct;
c. you have registered for at least 6 credits or the equivalent.
Eligibility.
Award eligibility based up EFC, cost of attendance, enrollment and other resources.
Award will be canceled if enrolled less than half-time.
Federal direct subsidized loan for student
By: Nick Batt
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