Approximately $60 billion is allocated every year by the Federal
Government to be disbursed among needy students as grants and
loans, to pursue post secondary or higher education. Though it
is not the only source of Government education funding, the
Department of Education's Federal Student Aid (FSA) is the
largest student's loan-funding source in America.
The starting point of getting Federal student loans is to fill
out the Free Application for Federal Student Aid (FAFSA) form,
which can be done electronically. To be eligible for a student
loan you must be a US citizen or an eligible non-citizen, posses
a high school diploma or a General Education Development (GED)
certificate and you must be demonstrably genuinely in need of
financial assistance for studies. On top of it all, you must be
pursuing or preparing to pursue further education.
Conviction on charges of doing drugs or possessing of drugs can
disqualify you from getting a federal student loan. But there
may be chances of getting student loans from the states in such
a case. So its advisable to fill out the form and verify the
Its better to obtain student loan directly from the government
agency and not through some private agency that may be a scam.
Millions of dollars are pocketed by such frauds depriving the
real beneficiary from furthering their career. For more
information on this, contact -1-877-FTC-HELP (1-877-382-4357) or
Student loan is awarded basing on the need evaluated by the
government, unsubsidized Stafford Loan being the exception.
Expected Family Contribution (EFC), the information about your
family income is instrumental in determining how much a loan
applicant would get. All these facts are derived once the
student fills in the FAFSA form furnishing relevant details.
There may come a time after availing a student loan when you
feel that the existing interest rate on your loan is high and
that direct student consolidation loans would offer you a
lower rate of interest then you should go for a direct student
consolidation loan. If you are close to default or having
trouble with paying monthly installments direct student
consolidation loan would help you. A six months grace period
before repayment starts can be availed if you consolidate while
in school. Direct student consolidation loan renews your
deferment options if you have exhausted deferment options on the
existing federal student loan. Direct student loan consolidation
can be utilized by any Federal student loan beneficiary and what
more it's free of any cost.
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