Loans are funds that do have to be repaid.
- National Student Loan Data System — NSLDS is a central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan Program and other Department of ED programs.
- William D. Ford Federal Direct Loan Program — Loans made through this program are referred to as Direct Loans. Eligible students borrow directly from the U.S. Department of Education at participation schools. Direct Loans include subsidized and unsubsidized Direct Stafford Loans.
- Direct Subsidized Loan — The loan is based on financial need and you will not owe any interest on them before repayment. The federal government “subsidizes” (or pays) the interest while you’re in school at least half time, for the six months after you leave school (your grace period) and during a deferment (a postponement of loan payments). Award amounts vary based on grade level in school, dependency status and other financial assistance received.
- Direct Unsubsidized Loan — The loan is not based on financial need and interest is charged on the loan from the time it is disbursed until it is repaid in full. Students have the option of paying the interest during deferment periods and during the grace period, or they may capitalize the interest. Capitalizing interest means that it will be added to the principal amount of the loan and it will increase the amount to be repaid. Award amounts vary based on grade level in school and dependency status.