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What is a federal student loan?
A federal student loan allows students and their parents to borrow money to help pay for college through loan programs supported by the federal government. They usually have low interest rates and offer attractive repayment terms, benefits and options. Generally, repayment of a federal loan does not begin until after the student leaves school. Federal student loans can be used to pay school
expenses such as tuition and fees, room and board, books, supplies and transportation.
Federal student loans are delivered to students through two programs: the Direct Loan Program and the Federal Family Education Loan Program. Both programs offer essentially the same type of loans with similar loan terms and borrower benefits. Your school chooses the loan program in which it will participate. In both programs, loan funds are provided to you through your school.
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Change in US loan process will
