What is the interest rate on Federal Direct Loans?
A fixed rate of 6.0%. • When do I begin repaying my Federal Direct Loan? On both the subsidized and unsubsidized loan, repayment of the principal begins 6 months after the student ceases to be enrolled at least half-time. • How long do I have to repay my Federal Direct Loan? Anywhere from 10 years to 30 years, depending on the type of repayment plan you choose. • If I enter my repayment period on my Federal Direct Loan and am unable to begin making payments, is it possible to defer (postpone) repayment? In certain situations. A student may postpone repayment of a Direct Loan if the student is enrolled at least half-time at a college or university. In addition, a student may qualify for a deferment of up to 3 years if the student is unable to find full-time employment or is experiencing an economic hardship. The student must request a deferment from his lender. A student who has already started repaying a student loan but who wishes to temporarily stop making payments may request a forb
