First is the Direct Loan program under William D Ford program. The types of loans that are available under this program are;

Direct Plus Loans

There are two sub categories for the Direct PLUS loans;

• Direct Plus Loans for Parents: Any parents that have children dependent on them that are enrolled in school at least as half-time students are eligible to borrow a loan amount under this category. Any loans that are disbursed between 1 July 2016 on 1 July 2017 have the interest rate of 6.31%. This is contingent that there is no negative credit history for parents. The interest on the loan, from the initial month, are parents’ responsibility. These loans are disbursed by DOE which will all these payments. The limit that is set on these loans is expenses of going to college subtracting any other financial aid the student is getting. Also, a fact to know is that loan taken out before 1st of October of 2016 his a loan fee around 4.272% and this loan that were disbursed aftershave a fee of 4.276%.
• Direct PLUS Loans for Graduates: students that are in college for a minimum half time and are graduate students or students pursuing a professional degree qualify for loans these loans. Credit score plays an important part in this loan processing. Students should not have a bad or negative credit. For the life of the loan the students this responsible for the interest on it. Loans taken out during 1st July 2016 and 1st July 2017 come with interest rate of 6.31%. With these loans also the lender is the Doc which receives all payments that are made. This loan amount doesn’t exceed the cost of attending subtracting any other financial aid that the student may be received the loan fee of loans made before 1st October 2016 is 4.272%and any loan afterward is 4.276%.

Direct Subsidized Loan

This loan is for those students who can prove that they are in financial need and will also be going to school for minimum halftime they can apply for a direct subsidized loan loans disbursed between 1st July 2016 and 30th June 2017 have the interest rate of 3.76% the food and who took the loan out is not liable to pay any interest on this loan while they are in school and ruled or are in any deferment. In the case of diet subsidized loan the lender is not the Department of Education but the school itself all payments of loan would be made to the school best-subsidized loan can range between 3500 to 5500 any interest that incurs while you are enrolled in school at least half-time or are In grace period Or any period of deferment is paid by the Department of Education.

Direct Unsubsidized Loan

A direct unsubsidized loan is a loan that does not require any prior demonstration of financial need. This loan type is available to undergraduate and graduate who go to college at least half time loans disbursed between July 1st, 2016 and 30th June 2017 have the interest rate off 3.76% and for the graduates it is 5.31% unlike the other direct subsidized loan the interest is the responsibility of the student who has taken the loan in this case also the lender is a school itself which will take all the payments that unsubsidized loan amount can be between 5500 to 20000 subtracting any subsidized amount.

Direct Consolidation Loans

This type of loan lets you combine your various Federal Loans into one new loan with one single monthly payment and one single lender.