Federal Student Loans
Even if you are successful at securing scholarship money and/or
grants, you may still need to fund a portion of your expected
college expenses. Federal Student loans and financial aid, unlike grants and work-study,
are borrowed money that must be repaid, with interest, just
like car loans and home mortgages. The government offers federal
student loans to help you afford college, pay back at a more
favorable interest rate than private student loans, and defer
payment until after graduation. Federal Student loans are
legal obligations, so know that you will have to eventually
repay them.
The federal government is the largest source for college loans and federal student aid.
You can apply for a federal student loan through CRM Loans.
The types of loans are:
Federal Perkins Loans are made through participating
schools to fulltime or part-time undergraduate, graduate and
professional students and offered by participating schools
to students who demonstrate the greatest financial need (Federal
Pell Grant recipients get top priority).
CLICK HERE FOR MORE.
Stafford Loans are for undergraduate, graduate
and professional students. You must be enrolled at least half-time to
be eligible for a Federal Stafford Student Loan. Unlike Perkins Loans,
Direct
and FFEL Stafford Loans have variable interest rates.
The loans you receive will be either subsidized or unsubsidized.
CLICK HERE FOR MORE.
PLUS Loans are loans parents can obtain for
their dependent undergraduate children and graduates can obtain
to help pay for graduate school.
CLICK HERE FOR MORE.
Consolidation Loans allow you (or your parents,
if they have a PLUS Loan) to combine several types of federal
student loans into one loan with one monthly payment.
CLICK HERE FOR MORE.
Click
here for comparison chart.
