Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need. Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit . Jan 24, 2018 · An adult student completes the same FAFSA as a high school senior. Even if you don’t qualify for grants, you should still fill out the FAFSA to get access to federal student loans. Federal loans typically have lower interest rates and more generous repayment terms than private loans, helping you save money. Grants to go back to schoolAuthor: Kat Tretina.
While adult students may find it easier to secure a college loan than their high school counterparts, that loan will need to be repaid with interest. College grants, however, never have to be repaid. The more money adult students can secure through grant programs, the less they will have to find in college loans. APRs assume a $10,000 loan to a person borrowing for a freshman student. This repayment example is based on a typical Smart Option Student Loan made to a freshman borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 8.44% fixed APR.
FEDERAL STUDENT AID FOR ADULT STUDENTS Are you an adult considering college? Do you need help paying your education expenses? Apply for federal student aid! What is Federal Student Aid? Federal student aid from the U.S. Department of Education (ED) is money to help you pay your education expenses at a college, career school, university. Federal Student Aid for Adult, Non-Traditional or Older Students. Graduate and professional students are eligible for Stafford loans each year. They are also eligible for the Grad PLUS loan. You can more about Federal Student Aid for Adult Students on the Department of Education’s adult students section.