It is available to provide off-campus jobs. Often students are able to find placement in their field of interest. This is a subsidized loan, which means that the federal government will pay the interest on the loan while the student is in school and during specified deferments, but the student must demonstrate financial need to receive the loan. Federal Direct Unsubsidized Staff Loans Students may be awarded this unsubsidized loan regardless of need but will have to pay all interest charges. Federal Direct PLUS Loan Credit-worthy parents of dependent students can borrow a PLUS loan to pay for the student's education.
Payment begins after borrower ceases to be a student.
Borrowers are advised that loans in default may be brought to litigation and court judgments sought. It is a program designed to assist families that have students attending colleges and universities in Massachusetts. TERI, Alliance Supplemental Loans, etc. Undergraduate or graduate students must be credit worthy to participate. Need-based financial support for the program is provided by the Charles J. Hoff Foundation, which has pledged to fund several scholarships per year.