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Loans for federal employees
Federal student loans are loans given out by the government to students who want to go to school. These loans are given out by the Department of Education. There are two types of federal student loans: subsidized and unsubsidized. Subsidized loans require no payments while unsubsidized loans do require payments.
2. Direct Stafford Loan
The direct Stafford loan is a type of federally-backed loan that requires no repayment until six months after graduation. After six months, borrowers have ten years to pay off their loans. If they don't make any payments, the interest rate increases.
3. Perkins Loan
Perkins loans are private loans that are backed by the U.S. government. Like the direct Stafford loan, these loans require no payment until six months after graduation and then 10 years to pay off the loan. However, unlike the direct Stafford loan, the interest rate on Perkins loans does not increase if the borrower doesn't make any payments.
4. PLUS Loan
PLUS loans are private loans that require payments throughout college. Unlike the other loans, the interest rate on PLUS loans increases if the borrower doesn't pay back the loan.
5. Parental PLUS Loan
This loan is given to parents of dependent undergraduate students. Parents must sign a contract agreeing to repay the loan if the student defaults on his/her own loan.
6. FFELP Loan
FFELP stands for the Federal Family Educational Loan Program. This program was created to help low income families afford higher education. Students receive a fixed amount of money each year for four years.
7. William D. Ford Direct Loan
William D. Ford is a former president of the United States. He established the William D. Ford Direct Student Loan Program in 2008. This program provides financial aid to students who need it. 1. Federal Student Loans
Federal student loans are offered by the Department of Education. These loans are available to students who meet certain requirements. You may qualify if you have not earned enough money to pay for college expenses and need financial assistance. If you do not qualify for federal student loans, you may still qualify for private student loans. Private student loans are offered by banks, credit unions, and other lending institutions.
2. Direct Subsidized Loan
A direct subsidized loan is a type of federal student loan that does not require repayment until after graduation. After you graduate, you may begin repaying your loan. Repayment begins six months after you leave school. Your monthly payment amount is based on your income at the time you apply for the loan.
3. Direct Unsubsidized Loan
A Direct unsubsidized loan is a type of federally-backed student loan that requires repayment while you are enrolled in school. You may borrow up to the cost of attendance minus any grants or scholarships received. Your monthly loans for federal employees payments depend on how much you earn and what interest rate you choose.
4. Perkins Loan
Perkins loans are available to students attending vocational schools and technical colleges. You may receive these loans if you cannot afford to attend school and need help paying for tuition costs. You may borrow up $5,500 per year for four years. Your monthly payments are based on your income and family size.
5. Parent PLUS Loan
If you are borrowing a parent's PLUS loan, you may use the funds toward your own education. Parents may borrow up to $23,000 for each eligible child under age 18. You may borrow up the full amount of your parents' PLUS loan if they die or become disabled before you complete your degree program.
6. Stafford Loan
Stafford loans are available to undergraduate students and graduates of public and private nonprofit postsecondary educational institutions. You may borrow up tp $5,500 per academic year. Your monthly payments are determined by your expected family contribution (EFC) and your income.
7. William D. Ford Direct Loan
The William D. Ford Direct loan is designed for undergraduates who attend public or private nonprofit institutions. You may borrow between $3,500 and $9,250 per academic year. Your payments are based on your EFC and your income.

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