FEDERAL DIRECT LOANS (William D. Ford)

The William D. Ford Federal Direct Loans are a low-interest loan designed to provide students with additional funds to assist in paying for education cost not covered by other sources of financial aid. There are two types of Direct Loans: Subsidized and Unsubsidized. To qualify, you must first complete the FAFSA (Free Application for Federal Student Aid) online and be enrolled in either the Combination Structural & Pipe Welding Program One or Structural Welding Program Two. Repayment begins 6 months after graduation, leave school, or cease to be enrolled.

Federal Direct Subsidized Loan
    The subsidized loan is based on financial need as determined by the Free Application for Federal Student Aid (FAFSA). The federal government pays the interest while you are in school, during your grace period, and during any authorized deferment periods.

Federal Direct Unsubsidized Loan
    The unsubsidized loan is not based on need, which means students at any income level can qualify. Interest will accrue while in school, during your grace period, and during any authorized deferment periods.  The student has the option of paying the interest during these times.

Federal Regulations require that all students borrowing Federal Direct Loans complete entrance counseling prior to the initial disbursement of loan funds. Students will be required to do this prior to completing the loan process.  

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