Summary:
An informative briefing that discusses the different types of student loans that are available in the United States including Stafford Loans and Direct Loans.

Details or Sample:
Are you confused about how to apply for a student loan? Here is a short explanation that will hopefully demystify what looks like a snarl of red tape at first. Student loans are not grants, as they do have to be paid back, but they can definitely help you focus on your studies and not on worrying about money!

The U.S. government is benevolent enough to make student loans accessible to anyone who wants to attend an accredited learning institution in the United States. These loans are called Direct Loans. The Direct Loan Program is one of the many Federal Student Aid (FSA) programs provided by the Department of Education. The FSA program provides students with a way to borrow money to pay for education after high school (but keep in mind you still have to pay it back!

Luckily students in the United States do not have to borrow from banks. These Direct Loans are created with federal capital and owned by the federal government. The federal government raises the loan funds through Treasury bill auctions that it regularly conducts.

Since you are borrowing this money directly through the federal government, you will have will have to make all of your loan payments to the Department of Education. An important distinction between Direct student loans and ordinary loans is that you dont have to pay the bank back the student loan. You pay the government back, which is a little more lenient with the interest back instead.

Furthermore, the actual application process is a lot easier than borrowing from a bank. Those who want to apply for Direct Student Loans only need to ...

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Written by: Donna Lypchuk
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