What Is a Ford Direct Student Loan?

If you are contemplating attending school or are currently attending, then you may be interested in obtaining a Ford Direct Student Loan to fund your education. The Ford Direct Student Loan is a part of the William D. Ford Direct Loan Program. The programs provide students with access to funding at low interest rates and with flexible repayment terms. The program offers three other loans in addition to the Direct Student Loan. They are Direct Unsubsidized Loans, Direct PLUS Loans and Direct Consolidated Loans. The Direct Student Loan is also known as the Direct Stafford Loan.

Eligibility

The Ford Direct Student Loan is available to anyone who is an undergraduate, graduate or vocational student. He or she must be enrolled in school at least half time (six credit hours or whatever is deemed as half time by the educational institution) at a participating educational institution. Prior to accepting the loan, the borrower (student) must complete an entrance counseling session and master promissory note. These documents are necessary in order to receive loan funding. It also informs the student of the terms and conditions of the loan and his or her responsibility and rights in accepting the loan. In addition, the federal government guarantees these loans.

 


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