The student s budget usually includes tuition, fees, room, board, books, supplies, travel, and personal expenses. Each institution develops its own student budget. The federal government provides the university with a fixed annual allocation which is awarded by the financial aid administrator to deserving students. Under this plan, a bachelor s degree often requires five years to complete. Failure to make monthly loan payments when due.
Delinquency begins with the first missed pay-ment.
See Federal Direct Student Loan Program. See Federal Family Education Loan Program. Stafford and PLUS loans are available directly from the federal gov-ernment rather than through commercial lenders. Selected colleges participate in this program. Stafford and PLUS loans are financed by private lenders and guaranteed by the federal government.