To qualify for a federal student loan, you must meet the following requirements:
The maximum amount you’ll be borrowing is:
If you’ve already received a Pell Grant, you can’t receive a loan, as that grant is only available for qualified families.
The income of you or your parents must be less than 65% of the federal poverty level for you and your parents to qualify for a Direct Loan. For more information, see What does the Pell Grant do to my loan?
If you or your parents qualify for another federal loan, like the Perkins Loan, you can use these funds to repay any of those loans.
How do I apply for a Pell Grant?
You can apply for loan assistance online using the National Student Loan Data System (NSLDS) or by using one of the three programs for which you qualify:
Your federal loans, including those for which private student loans were made.
Your federal loans from private lenders.
Federal loans made by a nonprofit or governmental agency.
Direct loans. The loan is made by the federal government or a school or non-profit entity such as your school or non-profit.
The loan is made by you or a family member (including yourself or your parents) to pay for tuition, fees or books at a certain institution.
How do I apply for a Direct Loans?
To apply for Direct Loans, you must first check your eligibility on the NSLDS. If you’re not able to finish your eligibility check, you will probably be automatically added to a waiting list for additional assistance.
If you are on the waiting list, you can apply for Direct Loans by using one of the three programs for which you qualify:
Direct loan programs from private lenders.
Direct loan programs from federal government departments and other agencies.
Direct loan programs from nonprofit organizations in the public or for-profit sector.
You can also visit the following websites:
To request an eligibility exam, ask for an eligibility exam from one of these three organizations:
The Education Funding Council (EFC), a nonprofit organization.
The National Center for Education Statistics (NCES), a non-profit organization.
The National Consumer Law Center, a non-profit organization that provides assistance for consumer law issues.
If I have my own money, how do I apply for Direct Loans?
You may be able
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