The U.S. Department of Education offers low-interest loans to eligible students to help cover the cost of college or career school. 
Students may be eligible to receive subsidized and unsubsidized loans based on their financial need. Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four - year college or university, community college, or trade, career, or technical school. The U.S. Department of Education offers eligible students at participating schools Direct Subsidized Loans and Direct Unsubsidized Loans. Some people refer to these loans as Stafford Loans or Direct Stafford Loans. 

What s the difference between Direct Subsidized Loans and Direct Unsubsidized Loans? 
In short , Direct Subsidized Loans have slightly better terms to help out students with financial need. Here s a quick overview of Direct Subsidized Loans : Direct Subsidized Loans are available to undergraduate students with financial need. Your school determines the amount you can borrow , and the amount may not exceed your financial need. The U.S. Department of Education pays the interest on a Direct Subsidized Loan while you re in school at least half - time , for the first six months after you leave school referred to as a grace period * , and during a period of deferment a postponement of loan payments. *Note: If you received a Direct Subsidized Loan that was first disbursed between July 1 , 2012, and July 1 , 2014 , you will be responsible for paying any interest that accrues during your grace period. If you choose not to pay the interest that accrues during your grace period , the interest will be added to your principal balance. Here s a quick overview of Direct Unsubsidized Loans : Direct Unsubsidized Loans are available to undergraduate and graduate students ; there is no requirement to demonstrate financial need. Your school determines the amount you can borrow based on your cost of attendance and other fin

user: how can I get a low-interest loan to help cover the cost of college?

assistant: Students may be eligible to receive subsidized and unsubsidized loans based on their financial need.

user: how can I be eligible?

assistant: If the total loan amount you receive over the course of your education reaches the aggregate loan limit, you are not eligible to receive additional loans. However, if you repay some of your loans to bring your outstanding loan debt below the aggregate loan limit,  you could then borrow again, up to the amount of your remaining eligibility under the aggregate loan limit.

user: What happens if I received a Direct Subsidized Loan that was first disbursed on February 15, 2014?

assistant: you will be responsible for paying any interest that accrues during your grace period.

user: What additional steps must I take to receive my loan?

assistant: Do your financial aid package includes federal student loans?

user: No

user: Where can I find information about the student loans I ve received?

assistant: Visit My Aid to view information about all of the federal student loans and other financial aid you have received and to find contact information for the loan servicer for your loans.