Only those students that happen to be attending schools that are participants of the Direct Loan program will be eligible for maintaining a direct student loan account. In addition, it also means that the student must have completed their FAFSA and have also signed the master promissory note or MPN. To make sure that the direct student loan account is set up right it is a recommended that you talk with your counselor regarding the Direct Loan program or it is also possible to obtain information regarding the direct student loan account by visiting the website maintained by Direct Loan Servicing Site.
Set Up Your Direct Student Loan Account
By visiting the Direct Loan Servicing Site you can set up your direct student loan account and by using this account you can view the records of your payments at any time. In addition, this site also provides information regarding the outstanding balance in your direct student loan account for each of the different direct student loans that have been taken by you.
In case you want more information regarding your direct student loan account, you will then need to use the Service Center where you must place a request to use the electronic correspondence features for sending of your bills as well as for obtaining any other direct student loan account related information.
It is also possible to make payments for your Direct Loan at this site at no cost, and in addition, here you can also schedule your payment of your direct student loan account for as many as six months in advance. It is also possible to obtain a subsidized Direct Stafford loan which comes with attached subsidy on interest and which means that students holding this kind of direct student loan account are eligible to have the government cover the interest payments on their loans during the period when they are attending school.
However, it must be mentioned that not every Stafford loan is a direct student loan and also that not all direct student loans are subsidized. Also, not every student that has opened a direct student loan account will receive the same amount of money to it because several factors govern how much money they are given in the form of direct student loan.
Perhaps the simplest form of student loan that can be paid off easily is the student loan debt. However, it does mean that you will first of all have to become aware of the secrets that will help you pay back the debt in the shortest possible time. If you go by bum advice, you might find that the debt is rather hard to pay off.