What is ‘Federal Direct Loan Program ‘
A program that provides low-interest loans to postsecondary students and their parents. The William D. Ford Federal Direct Loan Program is issued and managed by the U.S. Department of Education and is the only government-backed student loan program in the United States. Students who wish to apply for funding must first submit the Free Application for Federal Student Aid (FAFSA).
Explaining ‘Federal Direct Loan Program ‘
Several types of loans are available under the William D. Ford Federal Direct Loan Program, including subsidized direct loans, unsubsidized direct loans, Direct PLUS Loans and Direct Consolidation Loans. All loans that are granted through the Direct Loan Program have maximum amounts set each year, with each successive year allowing for an increase in the total maximum yearly amount, with set aggregate amounts.
Further Reading
- A study of the Federal District Student Loan Program: Initial implementation in New York State. – elibrary.ru [PDF]
- Trends in Student Aid, 2003. – eric.ed.gov [PDF]
- The role of the US Federal Government in the student loan industry – dspace.mit.edu [PDF]
- Individual and campus characteristics associated with student loan default – link.springer.com [PDF]
- Federal student loan repayment assistance for public interest lawyers and other employees of governments and nonprofit organizations – heinonline.org [PDF]
- Direct Student Loans: Additional Steps Would Increase Borrowers' Awareness of Electronic Debiting and Reduce Federal Administrative Costs. Report to the … – eric.ed.gov [PDF]
- The Role of Financial Aid Counseling in Students' Understanding of Student Loan Management. – digitalcommons.lsu.edu [PDF]
- Recent changes to a measure of US household debt service – heinonline.org [PDF]
