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1. #PRIVATE STUDENT LOANS FOR PAST DUE BALANCES FULL#
2. #PRIVATE STUDENT LOANS FOR PAST DUE BALANCES PROFESSIONAL#

When repayment begins, you will make your payments to the federal government via a student loan servicer. On this site, you can also see the different repayment plan options.

You can use the Loan Simulator on the website to estimate your monthly loan repayment after you leave school. The grace period, or the time before your first payment is due, for Direct Loans is six months, which begins when you graduate, leave school, or drop below half-time enrollment. You should complete counseling shortly before you graduate or cease at least half-time enrollment. When you leave school, you must complete Direct Loan Exit Counseling. There are annual and aggregate student loan limits, which can be found online at loan limits. However, if you change your mind later, it may be able to be re-offered to you. You can accept a lower amount of the loan in MyRED.

#PRIVATE STUDENT LOANS FOR PAST DUE BALANCES FULL#

You do not have to accept the full amount of the loan that is offered. If you accept a loan that is offered to you, which you can do in MyRED, then you must complete a Master Promissory Note (MPN) and Loan Entrance Counseling. Interest rate and fee information can be found online at. Interest begins accruing once the loan is disbursed.

#PRIVATE STUDENT LOANS FOR PAST DUE BALANCES PROFESSIONAL#

For example, if you are enrolled in a four-year bachelor’s degree program, the maximum period for which you can receive Direct Subsidized Loans is six years (150 percent of 4 years = 6 years).ĭirect Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need. You may not receive Direct Subsidized Loans for more than 150 percent of the published length of your program.

The federal government does not charge interest on subsidized loans while you are enrolled at least half-time. Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need.