Not exact matches
Lenders or
loan holders, including the Department of
Education,
generally contract with private companies to administer all aspects of federal student
loan repayment, including answering borrowers» questions about the repayment of federal student
loans and about available
loan forgiveness
programs.
The federal student
loans generally must be consolidated under the Federal Direct
Loan Program (FDLP) or must be paid through the Federal Family
Education Loan Program (FFEL).
A pro tip from the
Education Department: «
Generally, if you see a
loan type with «Direct» in the name on My Federal Student Aid, then it is a Direct Loan; otherwise, it is a loan made under another federal student loan program.&ra
loan type with «Direct» in the name on My Federal Student Aid, then it is a Direct
Loan; otherwise, it is a loan made under another federal student loan program.&ra
Loan; otherwise, it is a
loan made under another federal student loan program.&ra
loan made under another federal student
loan program.&ra
loan program.»
Generally, a postsecondary school participates in either the Federal Family
Education Loan Program or in the Federal Direct
Loan Program.
Generally, the lowest interest rates are available to undergraduate borrowers, and higher rates are charged to graduate students and parents who borrow through the PLUS
loan program to finance their child's
education.