Federal student loans for college or career school are an investment in your future. 
You must repay your loan, so be sure you understand your options and responsibilities. If you apply for financial aid , you may be offered loans as part of your school s financial aid offer. A loan is money you borrow and must pay back with interest. If you decide to take out a loan , make sure you understand who is making the loan and the terms and conditions of the loan. Student loans can come from the federal government, from private sources such as a bank or financial institution, or from other organizations. Loans made by the federal government, called federal student loans, usually have more benefits than loans from banks or other private sources. Learn more about the differences between federal and private student loans. 

What types of federal student loans are available? 
The U.S. Department of Education s federal student loan program is the William D. Ford Federal Direct Loan Direct Loan Program. Under this program , the U.S. Department of Education is your lender. There are four types of Direct Loans available : Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school. Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students , but eligibility is not based on financial need. Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need , but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify. Direct Consolidation Loans allow you to combine all of your eligible federal student loans into a single loan with a single loan servicer. Try This Resource Federal Student Loan Prog

user: Can you explain what is involved with a federal student loan for college?

assistant: The most important thing that you should be aware of is that you must repay any loan you receive, in this regard, you are advised to be au fait with your options and responsibilities

assistant: Are you looking to apply for federal student aid in the near future?

user: Not currently, but it may be something that I will need to consider in the future

user: What types of federal student loans can be applied for and are there restrictions or features of these loans that I should be aware of?

assistant: With a Direct Unsubsidized Loan, you are able to borrow up to $20,500 each year. Direct PLUS Loans are designed to be used for college costs that are determined by your school for expenses that are not covered by any other financial aids

user: What are the things I should know if I decide to take out loan through the FSA program?

assistant: When taking out a loan, you must fully understand who the loan is being taken by and the terms and conditions of the borrowing. There are a number of sources of student loans, these being the federal government, private sources such as banks or financial institutions and other organizations

user: Is there a limit to how much I can borrow if I am a graduate or professional student?

assistant: As a graduate or professional student, you can borrow up to $20,500 each year with a Direct Unsubsidized Loan. You may also use a Direct PLUS Loan on the remainder of your college expenses, which is not covered by other financial aids in the market