Direct PLUS Loans are unsubsidized loans available to graduate/ professional students to help pay for educational expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. For the past 3 years, many young people who are unable to find jobs or find jobs that are in the [...]
Posts under ‘Student Direct Loans’
What is Master Promissory Note (MPN)?
The student loans and processes have been getting more complicated. Most of us don’t know what MPN. It stands for Master promissory Note. The MPN is a promissory note that can be used to make one or more loans for one or more academic years (up to 10 years). There are two types of MPNs [...]
There are some loans are ineligible for consolidation
Although most education loans are eligible for consolidation into a Direct Consolidation Loan. There are some private loans that are always ineligible for consolidation. So before you take out any student loans, consider your options and study all fine prints. It’s easy and tempting to get the loans before you enter the programs and thinking [...]
Once you leave or graduate your school, you have 6 months grace period
Did you know that when you leave school which includes graduating, withdrawing, or dropping below half-time attendance, you have 6 months of grace period before you have to make student loan payments. This applies to direct subsidized and unsubsidized loans. But be very careful with one scenario: There’s no second grace period. If you have [...]
Student Direct Loans are better options for you
If you are thinking about taking out student loans, look into the option of Direct Loans. Unlike private student loans, the lender of student direct loans is the U.S. Department of Education instead of a bank or other financial institution. These loans usually have lower rates.You borrow directly from the federal government and only need [...]