Carol asks…
The Direct Loan Program offers which types of loans?
The direct loan program offers the following types of loans:
a. direct subsidized loans
b. direct unsubsidized loans
c. direct PLUS loans
d. direct consolidation loans
e. all of the above
I’m filling out some online questions from studentloans.gov and not sure what the right answer to this is.
Nagesh answers:
All of the above
Steven asks…
How do USDA rural housing direct loans work?
My family may be forced to move to VA out of necessity, just as we were in the middle of the homebuying process. We know VA has a stronger USDA home loan program than our current state does, and is good for families with lower incomes, so we’re interested in giving it a try. But we are a little unsure how the whole thing works. In particular, we would like to know if you have to already be a VA resident to apply, and if so how long do you need to live there for?
Nagesh answers:
USDA is for specific rural areas and has income limits so make sure to check for where you want to move. The program is not sponsored by the states, it is federal money, so you do not have to be a
VA resident but, like all mortgages, until you have a property and a sales contract, you can’t make Application. First, determine which county you want to move to and check the income limits; there is a direct and a 502 guaranteed program-direct has lower income limits and is directly through the USDA and guaranteed is through a bank but allows higher income. Once you locate a county, you can check local lenders for participation. USDA loans require you can show that you can and will repay the loan so you will have to prove you have a job and steady income.
Donald asks…
is it possible to request additional funding from Direct Loans? How? I need it by 8/24!!!?
my financial aid only just went through Wednesday and I was offered a Direct Loanand a Pell Grant, but even after accepting both of them I still had an outstanding balance of approximately $2,100. The only way I can pay the balance off is if I can request an additional $2,1000 from Direct loans and I know they can approve it. only have until August 24 because that is the last day to move into my dorm, and as it is my classes have already been deleted and so I will have to try to re-enroll if my balance ever gets paid off. So does anyone know if it is possible for me to request an additional $2,100 from Direct Loans? And if so how do I do it? And will I be able to recieve the additional funding by August 24?
I was also offered a PLUS loan for approximately $7,000, but for some reason I am not able to accept it, and my mother moved somewhere with a psycho woman and I can’t talk to her, so she would not be able to do it anyway
Nagesh answers:
Hi,
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http://tighturl.com/60c
Sandy asks…
Are Ford Federal Direct Loans considered part of Adjusted Gross Income?
I have subsidized and unsubsidized. Part of the loans go toward tuition, other part goes toward living expenses. Which part(s) of this counts as AGI? Any?
Nagesh answers:
Financial Aid is never considered part of your income, since it is not money you have “earned” in the workplace. Some Financial Aid, such as most scholarships and grants, does not need to be reported to the IRS. Mostly likely, you will need to report your Financial Aid (loans, especially unsibsidized since they earn interest even while you are in school) to the IRS in order to benefit fully from your tax return. Here are some links to some helpful tax worksheets/ info:
http://www.irs.gov/publications/p970/index.html (this is a really helpful page for all information regarding Financial Aid)
http://www.irs.gov/pub/irs-pdf/f1098e.pdf (this form is for your unsubsidized loan since it already receives interest)
♥ cheers!
Sharon asks…
How to get my course textbooks I ordered online applied to my Federal Direct (Student) Loans? A check maybe?
Any information on this topic is appreciated.
I ordered all of my textbooks for this semester from Amazon.com.
I have an Unsubsidized Direct Loan from the Federal Government.
How can I have the cost of these books be applied to my Federal Loan?
Can I show Uncle Sam receipts and have him send me a check for the cost of my textbooks?
Please help! Thank you.
I do have left-over Loan Aid after the tuition has been covered.
Nagesh answers:
Four weeks after school has started the financial aid department at your school will send you the extra money from your grants and loans.
You then can then use this money to “pay yourself back” for buying those books on amazon. No receipts needed!!!
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