Heartland Community university participates within the Federal Direct Loan Program. The Heartland Financial Aid Office determines loan eligibility and the loans are made by the U.S. Department of Education under this program.
Federal Direct loans are educational loans that must definitely be paid back with interest. We encourage you to definitely give consideration to all the choices for funding your education first and make use of an educatonal loan as a “last resort. ” Think carefully before you borrow under this loan system as you can find severe effects not to repaying student education loans.
You can find three kinds of loans available:
- Direct Subsidized
- Direct Unsubsidized
- Parent Loans for Undergraduate pupils (PLUS) for moms and dads
Direct Figuratively Speaking
A primary Subsidized loan is a need-based loan, therefore you must show economic need based on information submitted in the FAFSA.
Interest starts accruing regarding the loan at that time the loan funds are disbursed, nevertheless the authorities will pay (subsidizes) the attention when you are signed up for college on at the least a half-time foundation. […]