So, did I receive a Stafford loan?

Paying for College
1

<p>My financial aid letter shows a William D. Ford Direct Loan—unsubsidized—is this loan the same as a Stafford Loan?</p>

<p>I have been awarded a merit based scholarship and accepted the Direct Loan; however, I need a little more. I have been rejected numerous times by private banks to meet the cost and, after reviewing my award letter again, realized that it said Direct and not Stafford which leads me to believe I still have government options open.</p>

2

<p>Ford Direct Loans are Stafford loans, but you borrow directly from the Fed Govt., instead of a bank. Same limits, unsub are 6.8%.</p>

<p>[Federal</a> Direct Loans](<a href=“http://www.ed.gov/offices/OSFAP/DirectLoan/index.html]Federal”>http://www.ed.gov/offices/OSFAP/DirectLoan/index.html)</p>

<p>[What</a> Is The William D. Ford Direct Loan Program? | Whalehook Loans](<a href=“http://whalehookloans.com/2007/10/13/what-is-the-william-d-ford-direct-loan-program/]What”>http://whalehookloans.com/2007/10/13/what-is-the-william-d-ford-direct-loan-program/)</p>

3

<p>If your parents can do a monthly payment for the balance, many schools offer that. There’s usually a small enrollment fee and payments due over 10 months, no interest.</p>