Do you want to apply for the William D Ford Federal Direct Loan Program? Find out here how to get this low-interest loan from the U.S. Department of Education. It is a federal student loan program under which eligible students and parents borrow directly from the U.S. Department of Education at participating schools.
About the William D Ford Federal Direct Loan Program
This William D Ford Federal Direct Loan program allows qualified students to borrow money from the federal government at low-interest rates with flexible repayment options
Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, Federal Parent PLUS Loans, and Federal Graduate PLUS Loans are all part of the Federal Direct Loan Program.
Federal Direct Subsidized Loan
Undergraduate students with financial needs can apply for Direct Subsidized Loans. The amount you can borrow is determined by your school, and it cannot exceed your financial necessity.
The U.S. Department of Education pays the interest on a Direct Subsidized Loan while you’re in school at least half-time,
for the first six months after you leave school (referred to as a grace period), and during a period of deferment (a postponement of loan payments).
Federal Direct Unsubsidized Loan
Undergraduate and graduate students can apply for Direct Unsubsidized Loans, and there is no need to demonstrate financial need.
The amount you can borrow is determined by your school based on your cost of attendance and other financial aid you receive. On a Direct Unsubsidized Loan, you are responsible for paying the interest at all times.
Note: If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to your principal loan).
Click Here to Learn More About the Terms & Conditions
Application for Incoming Students and News Borrowers
All incoming students and new borrowers who want to apply for a federal loan during the 2022–2023 academic year must complete a Federal Direct Subsidized/Unsubsidized Loan Master Promissory Note (MPN) at http://studentaid.gov.
You’ll need your FSA ID to sign your MPN electronically. This is the FSA ID you used to apply for federal student aid using the Free Application for Federal Student Aid (FAFSA).
If you can’t locate your FSA ID or are a new federal student aid applicant, you may reset or get a new FSA ID at http://fafsa.ed.gov.
You will need to Sign In using your FSA ID from your FAFSA. Select Complete Master Promissory Note and then select Subsidized/Unsubsidized.
Once you’ve electronically signed the MPN with your FSA ID, the application is complete.
You see that you do not require to submit a requested loan amount while filling out the Federal Direct Subsidized/Unsubsidized MPN.
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Application for Returning Students of William D. Ford Loan Program
Your Federal Direct Subsidized/Unsubsidized MPN is valid for 10 years if you previously borrowed at Widener Law Commonwealth, and you allow Widener Law Commonwealth to raise the aggregate loan amount each year.
Please complete the box on Widener Law Commonwealth’s Institutional Data Form to provide that information.
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