Federal Direct Student Loan
Deferred while the student is in school
Fixed Interest Rate of 3.86% for Undergraduate Subsidized and Unsubsidized loans
Subsidized (interest paid by the government while the student is in school) or Unsubsidized (interest accruing while the student is in school) eligibility is determined by the FAFSA calculation.
Fees are 1.072% of the principal loan amount
Repayment - when the student graduates or drops below half-time status, they have a six-month "grace period" before starting repayment
There are two online forms you must fill out to complete the paperwork for the Federal Direct Loans: Entrance Counseling and the Master Promissory Note (subsidized/unsubsidized loan).