There are two main forms of loans designed for qualified pupils through the William D. Ford Federal Direct Loan Program: unsubsidized and subsidized. To meet the requirements to get these loans, you truly must be signed up for six credit hours that count toward your degree at Seminole State university.
First-Time BorrowersFor first-time borrowers (pupil borrowers whom now have no outstanding loan balances) who possess attemped credits totaling 150 % or maybe more of the system size, any brand new loans disbursed on or after July 1, 2013 should be unsubsidized loans just. When a first-time debtor reaches the 150 per cent limitation, eligibility when it comes to interest subsidy finishes for several Direct Loans which are disbursed on or after July 1, 2013. Find out more.
Federal Direct Subsidized Loans
A Federal Direct Subsidized Loan is need-based, and it is accessible to assist fulfill need that is financial other resources are subtracted or even the yearly optimum loan restriction, whichever is leaner. Interest will not accrue although the pupil is enrolled at minimum half-time (six credit hours at Seminole State university) in an qualified system plan or during durations of authorized deferments. Continue reading