There are two main kinds of loans readily available for eligible pupils through the William D. Ford Federal Direct Loan Program: unsubsidized and subsidized. To qualify to get these loans, you really must be signed up for six credit hours that count toward your level at Seminole State university.
First-Time BorrowersFor first-time borrowers (pupil borrowers whom now have no outstanding loan balances) that have attemped credits totaling 150 per cent or even more of these system size, any brand new loans disbursed on or after July 1, 2013 will undoubtedly be unsubsidized loans just. When a first-time borrower reaches the 150 per cent limitation, eligibility when it comes to interest subsidy comes to an end for several Direct Loans which are disbursed on or after July 1, 2013. Discover more.
Federal Direct Subsidized Loans
A Federal Direct Subsidized Loan is need-based, and is open to assist satisfy monetary need after other resources are subtracted or even to the yearly optimum loan limitation, whichever is gloomier.