average time to hear about direct subsidized loans
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Federal Direct Loan Information The federal government pays the interest while you are in school at least half time (6 credit hours). You may receive the Federal Direct Subsidized Loan for a timeframe equivalent to 150% of the length of your degree or certificate, provided that all other eligibility criteria are met.
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ETSU Homepage In general, you must repay your loan even if you don't graduate, can't find work in your field of study, or are dissatisfied with the education program. Keep in mind that your Federal Direct loans have a 6-month grace period after you graduate or drop below half time enrollment before your loan repayment period begins.
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Subsidized vs. Unsubsidized Stafford Loans Subsidized Stafford Loan. Unsubsidized Stafford Loan. The government pays your interest as long as you are in school half-time (6 units for undergraduates and 4 units for graduates) The government will pay your interest during times when you've been authorized to defer the loan.
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Master Promissory Note Direct Subsidized Loans and Direct Unsubsidized Loans William D. Ford Federal Direct Loan Program Based on financial need. The federal government pays the interest that accrues while the borrower is in an in-school, grace, or deferment status. Awarded up to 150% of the length of your program. ONLY available to undergraduates. NOT based on financial need.
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Direct Subsidized Student Loans Subsidized loans are federal student loans which are made available to eligible students to help finance a higher education. Subsidized means that an eligible borrower does not incur interest charges on the subsidized portion of their federal student loan while enrolled at a participating institution on at least a half-time basis.
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- Current Interest Rates. Federal Direct Loans disbursed on or after 7/1/16 and before 7/1/17 have an interest rate of 3.76% for undergraduate students and 5.31% for graduate or professional students, compounded at a quarterly rate. To learn more about how interest is calculated, click here.
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- The interest rate varies depending on the loan type and (for most types of federal student loans) the first disbursement date of the loan. The table below provides interest rates for Direct Loans first disbursed on or after July 1, 2016.
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How long does it take to get a student loan? Time to Get a Federal Student Loan. With federal student loans, you must first file the FAFSA (Free Application for Federal Student Aid). Depending on when and how the FAFSA is filed, whether it is signed electronically and whether you provide a valid email address, it can take 3 days to 3 weeks for the FAFSA to be processed.
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Maximum Allowable Loan Amounts for Federal Stafford Loans You may receive subsidized Stafford loans only up to 150% of the published length of your program. For example, students who are enrolled in program designed to take four years may receive subsidized Stafford loans for a period of six years (150 percent of 4 years = six years).
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9 Best Student Loan Consolidation and Refinancing Companies in 2018 About Federal Student Loans. If you make more than one monthly student loan payment, you may find life easier with one affordable payment. A Direct Consolidation Loan brings all of your federal student loans together with a fixed interest rate. The rate is determined as an average of the loan rates that are being consolidated (rounded up to the nearest one-eighth percent). Consolidation gives you up to 30 years to repay your loan, depending on your loan balance. Though increasing the repayment period also increases the total amount of interest you will pay over time, you can always pay more than the minimum due with no penalty.
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Direct Subsidized Stafford Loans: How to Apply Since the federal government pays the interest while you are in school at least half-time, during the grace period, and during periods of authorized deferment, Direct Subsidized Loans are the least expensive federal student loans available.
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What is a Federal Perkins Loan? How Do You Get One? With Federal Perkins loans, you won't see any interest accrue while you're in school, during grace period, or during a period of deferment. The grace period for a Perkins loan is also a bit longer than the standard: 9 months vs. 6 months, which means another 3 months of no interest post-graduation.
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Federal Direct Loans For example, if you are enrolled in a four-year bachelor’s degree program, the maximum period for which you can receive Direct Subsidized Loans is six years (150 percent of 4 years = 6 years).
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How long does it take to receive a student loan? It depends on the kind of loan. Federal student loans can take anywhere from 2 weeks to 6 months, depending on the speed of the financial aid office. Assuming all your paperwork is in order, chances are it'll be around the 4th week of school, give or take. The same is true of school-based private student loans.
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Request Information Apply NowMenuFind Your DegreeTuition and Financial AidAdmissionsConnectExperience WaldenAboutApply Now 1 of 3. Time Limitation on Direct Subsidized Loan Eligibility for First-. Time Borrowers on or after July 1, 2013. Maximum eligibility period to receive Direct Subsidized Loans. There is a limit on the maximum period of time (measured in academic years) that you can receive Direct. Subsidized Loans.
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Federal Direct Unsubsidized Loans All Direct Subsidized and Unsubsidized Loans disbursed between July 1, 2014 and June 30, 2015 carry a fixed interest rate of 4.66% for undergraduates. Graduate or professional students receiving a Direct Unsubsidized Loan disbursed between July 1, 2014 and June 30, 2015 will have a fixed interest rate of 6.21%.
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Direct Subsidized or Unsubsidized Loan interest rates Direct Subsidized or Unsubsidized Loan / Federal Stafford Loan (subsidized or unsubsidized) interest rates. Interest rates for Direct Subsidized or Unsubsidized Loans / Federal Stafford Loans (subsidized or unsubsidized) vary depending on loan type, when the loan was first disbursed, and your degree status (undergraduate or graduate).
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- Instructions for the Federal Direct Stafford Student Loan process. Federal Direct Stafford Student Loans are financial aid that must be repaid, typically 6 months from the point you are. no longer enrolled or drop below 6 credit hours. Federal Direct Stafford Student Loans are subject to the same rules.
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Advantages of Federal Direct Loans Competitive interest rates – As with other types of federal loans, Federal Direct Loans charge a lower rate than loans from private lenders. For 2015-2016, Federal Direct Loans charge 4.29% per year for both subsidized and unsubsidized undergraduate loans and 5.84% for graduate loans. Rates are recalculated each year; recent legislation now links them to the rate of the 10-year Treasury note. Click here to check current rates.
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Federal Direct Stafford Loan (FDSL) 1 For example, if a program’s published length is 4 years, a student would be eligible for subsidized loans for 6 years.  The interest is paid by the federal government while the student remains enrolled at least half-time. (see interest rates and origination fees)
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- Subsidized and Unsubsidized Loans. Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school.
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- This new law will be effective for first time borrowers or borrowers who have paid off their loans prior to July 1, 2013 and are borrowing again. This law allows students to receive Subsidized loans only within 150% of the length of your program of study.
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Federal Direct Subsidized and Unsubsidized Loans Subsidized loans are made to eligible undergraduate students who have demonstrated financial need (determined by filing FAFSA) to help cover the costs of higher education. The federal government pays the interest on the loan during: your enrollment in school on at least a half time (6 credits or more) basis;
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Federal Direct Loans If you are a first-time borrower on or after July 1, 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. This time limit does not apply to Direct Unsubsidized Loans or Direct PLUS Loans.