Direct Unsubsidized Stafford Loan: The Benefits and How You Can Qualify to Apply for It

Direct Unsubsidized Stafford Loan - There are actually all sorts of ways for students to finance their education in colleges. You can always rely on financial aid. However, it is not like the aid is the only means for you to try, considering that there are stricter requirements to apply for many forms of the aid and that they are aimed to help low income students and their families. There is another means called Direct Unsubsidized Stafford Loan. Let’s discuss more to know about it here in this opportunity. It is worth knowing for after all.

The Loan and the Benefits to Get from It

The loan we are talking about here is federal student loan, actually. It is the loan borrowed through the Direct Loans program. This program is then intended to offer a low, fixed interest rate and flexible repayment terms. What’s great is that this Direct Unsubsidized Loan is for both undergraduate and graduate students, and it does not require you to demonstrate your financial need, like what you do with financial aid.

Direct Unsubsidized Stafford Loan is low-cost, fixed-rate federal loans for both undergraduate and graduate students to loan for their study in colleges. Santa Clara University Tuition and Other Expenses You Have to Manage While Studying There

You can get all sorts of benefits from it, of course. They include 4.45% of fixed interest rate for undergraduate students and 6.0% for graduate students, no payment that must be made while enrolling institution, eligibility not based on financial need, and availability of multiple repayment plans. From these benefits, you should have been able to conclude that the loan is for students of all family backgrounds. Isn’t it pretty neat?

The Requirements to Qualify for the Loan

Indeed, Direct Unsubsidized Stafford Loan is for both low income and wealthy students to apply for. However, it does not mean that there is no requirement to be eligible for it at all. If you are interested in loaning instead of looking for financial aid, you should learn how you can qualify for the loan. There are all sorts of requirements to apply for it, of course with the exception of credit check, cosigner, and separate loan application.

Those requirements include being US citizen, national, or eligible non-citizen; receiving high school diploma; enrolling half-time in eligible degree at least; not in default in any federal loans; and meeting the general requirements for federal student aid. Financial circumstances don’t matter here, but you should qualify for Unsubsidized Stafford Loan with these requirements. If you are up it, there is no reason for you to ignore it, right?

Conclusion

What do you think about loaning for your education in college then? If you can pay it later, it would be the best means to finance your study first. Sure, there is financial aid in college, but the loan is for students of all family backgrounds. Whether you come from low income or wealthy family, the loan is there for you to apply for. Be sure to meet the requirements for Direct Unsubsidized Stafford Loan though if you are ever interested to do so. Parents can always send their children to study in college.