{"id":420,"date":"2011-06-08T16:25:19","date_gmt":"2011-06-08T16:25:19","guid":{"rendered":"https:\/\/www.bates.edu\/financial-services\/federal-direct-student-loan\/"},"modified":"2022-12-20T13:42:02","modified_gmt":"2022-12-20T18:42:02","slug":"education-loans","status":"publish","type":"page","link":"https:\/\/www.bates.edu\/financial-services\/types-of-aid\/education-loans\/","title":{"rendered":"Education Loans"},"content":{"rendered":"<p>Education loans help students and parents finance education costs over time, making payments more manageable.<\/p>\n<p>Different options are available for students and parents, depending upon whether the student qualifies for or is receiving other types of financial aid. ÀÖ²¥´«Ã½ participates in the William D. Ford Direct Loan Program.<\/p>\n<hr \/>\n<h5><strong>Loans Based on Need<\/strong><\/h5>\n<ul>\n<li><strong><a href=\"https:\/\/www.bates.edu\/financial-services\/grants-scholarships-loans\/education-loans\/student-loans\/\" target=\"_blank\" rel=\"noopener noreferrer\">Direct Subsidized Student Loan<\/a><\/strong> \u2014 students must apply for federal financial aid and meet financial need guidelines in order to receive this type of loan. No interest is charged while a student is in school at least half-time and during deferment periods.<\/li>\n<\/ul>\n<h5><strong>Loans Not Based on Need<\/strong><\/h5>\n<ul>\n<li><strong><a href=\"https:\/\/www.bates.edu\/financial-services\/grants-scholarships-loans\/education-loans\/student-loans\/\" target=\"_blank\" rel=\"noopener noreferrer\">Direct Unsubsidized Student Loan<\/a><\/strong> \u2014 students who are ineligible for a subsidized loan (or whose parents have been denied a PLUS loan) may take out this type of loan. Interest is charged during all periods, even during the time a student is in school and during deferment periods.<\/li>\n<li><strong><a href=\"http:\/\/www.finaid.org\/loans\/privatestudentloans.phtml\" target=\"_blank\" rel=\"noopener noreferrer\">Alternative\/Private Education Loans<\/a><\/strong> \u2014 many private lenders offer student loans with different conditions and interest rates.<\/li>\n<\/ul>\n<h5><strong>Parent Loans<\/strong><\/h5>\n<ul>\n<li><strong><a href=\"https:\/\/www.bates.edu\/financial-services\/grants-scholarships-loans\/education-loans\/parent-loans\/\" target=\"_blank\" rel=\"noopener noreferrer\">Federal Direct PLUS Loan for Parents<\/a><\/strong> &#8211; parents without an adverse credit history may borrow up to the full cost of education minus financial aid received\u00a0(including student loans).<\/li>\n<\/ul>\n<hr \/>\n<h5><strong>Loan Fees and Disbursements<\/strong><\/h5>\n<p>Federal education loans are subject to origination fees that are deducted at the time of disbursement. This means that the net amount of any loan disbursed to ÀÖ²¥´«Ã½ may be less than the total amount borrowed. Stafford Loan borrowers are charged an origination fee of 1.057%. PLUS Loan borrowers are charged an origination fee of 4.228%. Private\/alternative loans may be subject to fees that either are deducted from loan disbursements or are added to the loan principal at repayment.<\/p>\n<p>Loan disbursements are credited to accounts after the start of the semester. Families who have provided required loan application documents by August 1 may deduct the amount of the expected first semester disbursement (one-half the total academic year loan minus origination fees charged) from the first semester charges due August 1.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Education loans help students and parents finance education costs over time, making&hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":1033,"menu_order":2,"comment_status":"closed","ping_status":"open","template":"","meta":{"_hide_ai_chatbot":false,"_ai_chatbot_style":"","associated_faculty":[],"_Page_Specific_Css":"","_bates_restrict_mod":false,"bates_author_byline_override":"","_hide_page_title":false,"_header_override":"","_template_width_override":"","_dimp_site_id":"","_dimp_override_contact":false,"_table_of_contents_display":false,"_table_of_contents_location":"","_table_of_contents_disableSticky":false,"_is_featured":false,"_sidebarChoice":"sidebar-1","footnotes":"","_bates_seo_meta_description":"","_bates_seo_block_robots":false,"_bates_seo_sharing_image_id":0,"_bates_seo_sharing_image_twitter_id":0,"_bates_seo_share_title":"","_bates_seo_canonical_overwrite":"","_bates_seo_twitter_template":""},"class_list":["post-420","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/pages\/420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/comments?post=420"}],"version-history":[{"count":22,"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/pages\/420\/revisions"}],"predecessor-version":[{"id":3254,"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/pages\/420\/revisions\/3254"}],"up":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/pages\/1033"}],"wp:attachment":[{"href":"https:\/\/www.bates.edu\/financial-services\/wp-json\/wp\/v2\/media?parent=420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}