Federal Student Loans
Federal Stafford Loans, Perkins Loans, and Direct Loans require you to complete the Free Application for Federal Student Aid (FAFSA). The FAFSA application is generally filled out online, but you also have the option to download and print out a copy that you mail in, or even ask that a hard copy be sent to you. When you fill out a FAFSA the federal government checks, established on the data included regarding family income and other variables, how much you'll be granted in Federal student aid. A corresponding award letter is sent from your college letting you know how much loan aid you are able to expect. Apply ahead of time, which implies your family’s income taxes will have to be done early. Take the earliest deadline of any of the above aid sources for which you're applying and use that as your deadline date.The main difference between these two programs is type of lender. The factor that decides which type you'll use dwells in the choice of college or university. Your college financial aid office either will act as your lender through the Direct Federal Loan program, or they'll ask you to choose a assured student loan lender that deals with the federal loans for them, the FFEL program. The loans themselves do not change. The key variables may be choice of repayment condition and occasionally discounted loan fees.
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