Federal student loans, funded by the U.S. Department of Education, are accessible to students who complete the Free Application for Federal Student Aid (FAFSA).
They don’t require a credit check, proof of income, or a cosigner, but repayment with interest is necessary.
Federal loan interest rates are typically lower than those of private loans.
Federal Student Loans | FAFSA Student Loans
All federal student loans are now facilitated through the William D. Ford Federal Direct Loan Program.
This program offers various loan types, including Direct Subsidized, Direct Unsubsidized, Parent PLUS, Grad PLUS, and Consolidation Loans.
Each type has distinct eligibility criteria, interest rates, and borrowing limits.
Direct Subsidized Loans
Designed for undergraduates with financial needs, Direct Subsidized Loans have a fixed interest rate and origination fee. The government pays the interest while the student is in school, during the grace period, and in deferment.
Direct Unsubsidized Loans
Available to undergraduate, graduate, and professional students, Direct Unsubsidized Loans do not require financial need but accrue interest during deferment and enrollment periods.
Parent PLUS Loans
Parents of dependent undergraduate students can borrow Parent PLUS Loans to cover educational expenses. A credit check is performed, and repayment typically begins shortly after disbursement.
Grad PLUS Loans
Graduate and professional students may utilize Grad PLUS Loans to fund their education. These loans require a credit check and offer a grace period for repayment after graduation.
Consolidation Loans
Consolidation Loans allow borrowers to combine multiple federal student loans into a single monthly payment, simplifying repayment and offering access to alternative repayment plans or loan forgiveness options.
Here are the Requirements to get FAFSA Student Loans
Here are resources to provide more insight on FAFSA Student Loans
FAFSA student loans Customer service
FAFSA student loans Application
FAFSA student loans Forgiveness
FAFSA student loans Requirements