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Federal Student Aid (FSA) programs in Miami @ CBT

Direct Loan Program is one of the Federal Student Aid (FSA) programs provided by the Department of Education that provides students with a way to borrow money to pay for education after high school. Below is some basic information about Direct Loans and how to apply for them at the College of Business & Technology in Miami Fl.

 
Borrowers have flexible repayment options
The process is simple for borrowers. Direct Loans borrowers complete one application, the Free Application for Federal Student Aid (FAFSA), for all Department student financial aid programs, including Direct Loans. They do not submit a separate loan application to a bank. At CBT in Miami we try to guide our students on their best options when it comes to apply for loans in the miami area, and on how to pay or College.

• Students do not borrow from banks. The federal government raises the loan funds through its regular Treasury bill auctions. Direct Loans are loans made with federal capital and owned by the federal government. Loan repayments are made to the government.
• Direct Loans are never sold. Since borrowing is direct through the federal government, borrowers make loan payments to the Department of Education for the life of their loans. It's "one-stop-shopping" from loan application to repayment.
• Borrowers have flexible repayment options. There are four repayment plans in the Direct Loan Program: Standard, Extended, Graduated, and Income Contingent. Students can change options when they need to without a fee at any time during the life of the loan. Visit the Direct Loan Servicing Site to learn more about these options.

Simple Fact

LOANS borrowed money you must repay with interest. You can be an undergraduate or graduate student. Parents may also borrow to pay the education expenses of their dependent undergraduate students. Maximum loan amounts depend on your grade level in school.

Stafford Loans are made to students and PLUS loans are made to parents through two loan programs:

William D. Ford Federal Direct Loan (Direct Loan) Program: Eligible students and parents borrow directly from the federal government at participating schools. Direct Loans consist of Direct Stafford Loans, Direct PLUS Loans, and Direct Consolidation Loans. You repay these loans to us (the U.S. Department of Education).

Federal Family Education Loan (FFEL) Program: Private lenders provide federally guaranteed funds. FFELs consist of Federal Stafford Loans, Federal PLUS Loans, and Federal Consolidation Loans. You repay these loans to the bank or other private lender that made you the loan

Resource Online:

• Federal Student Aid (FSA) Website
• Free Application For Ferderal Student Aid (FAFSA)
• Ferderal Student Aid (FSA) Guide 2004-2005
• Student Loans