There are two main types of Direct Stafford Loans: unsubsidized and subsidized.
About Federal Loans
Federal Direct Stafford Loan System
You really need to have a legitimate FAFSA on file, be enrolled at minimum half-time in a diploma giving system and keeping satisfactory educational progress to get Stafford loans.
Direct Subsidized Loans: The loan that is subsidized need-based, that is decided by the difference between the expense of attendance as well as your anticipated household share. Pupils borrowing the subsidized loan don’t spend interest from the loan as they are enrolled at minimum half-time. The U.S. Department of Education pays interest even though the debtor is in college and during deferment and grace durations.
Direct Unsubsidized Loans: Unsubsidized loans are non-need-based, and pupils are not essential to show economic need certainly to borrow an unsubsidized loan. (more…)