Choosing a Lender

Before deciding which lender to choose for your federal loans
(Stafford and PLUS loans), you must first determine the federal
loan program that your college uses: FFELP or Direct.

The two programs are similar, with the main difference being
the source of the money. Your college will let you know the loan
program it uses and how to apply.

Federal Family Education Loan Program (FFELP) -
Funding comes from commercial banks, credit unions,
and savings banks that make the loans.

William D. Ford Federal Direct Loan Program (Direct) -
The U.S. Department of Education lends the money to the student
through the college.

Why Borrow so much money?

$10,000 per month…
MoneyPlus2000.com

This entry was posted on Friday, September 14th, 2007 at 4:12 pm and is filed under Student Loans, Financial Aid. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.