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When you apply online for your student loan, remember to put TopMark's lender code on your application and finance with us! Lender Code 832749
Federal loans are the largest source of education loans. Loans available under federal programs have very attractive terms when compared to most other borrowing options and lower interest rates.
Stafford loans are the most common source of student loan funds and are for undergraduate, graduate, vocational, and professional students. there are two types: subsidized and unsubsidized.
Subsidized Stafford loans are need-based. The Federal government pays the interest on the loan while you're in school, during the grace period before repayment begin, and during periods of approved deferment. Monthly payments begin six months after you graduate, drop below half time, or withdraw from school.
Unsubsidized Stafford loans can be taken out by all qualified students regardless of income. You must meet the same requirements as those for subsidized Stafford loans, except demonstrating financial need. Interest accrues from the time the loan is disbursed, and interest begins immediately but can be deferred. you may pay interest while you're in school, and have just the principal amount to pay when you start repayment.
Your Free Application for Federal Student Aid (FAFSA) will establish your eligibility for both. Applicants must complete the FAFSA, and the Stafford application/promissory note.
Loan funds are sent to your school in two or more payments and released to you after your enrollment and academic progress have been verified.
Parent PLUS Loans
Parents and step-parents with good credit histories may borrow up to the total cost of their dependent undergraduate education, minus any other aid for which the student is eligible. To qualify, you must meet the requirements for federal financial aidi. The student must be enrolled at least halt time in a graduate or professional program. Applicants must complete the Federal PLUS Loan Application and promissory note.
For borrowing limits and more important information, click Great Lakes.
Helpful Links
www.fafsa.ed.gov locate the Free Application for Federal Student Aid (FAFSA) instantly on the Department of Education's web site. Print out the step -by-step instructions.
www.ed.gov --- The Department of Education host a wealth of financial resources on this site. Learn more about the Federal Family Education Loan Program, access financial aid information, get the latest on news and events happening at the Department of Education, and much more!
www.fastweb.com --- Free reliable national scholarship search!
www.mapping-your-future.org Here you'll find information and resources on paying for school, selecting a school, an planning a career.
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