Program Description

These are the two sources of Plus Loans

• Federal PLUS Loans are made through Federal Family Education Loan (FFEL) Program. While FFEL funds come from private lenders, such as banks and credit unions, they are subsidized and supported by the U.S. Department of Education. You repay a FFEL PLUS Loan to the private lender that made the loan or to its designated agency.
• Direct PLUS Loans are made by the U.S. Department of Education. You repay a Direct PLUS Loan to the U.S. Department of Education.

Whether your school program is a Direct or FFEL PLUS loan terms it is generally the same. The school applies PLUS loan funds toward your child’s educational costs such as tuition, fees, and room and board. If any loan funds remain after school charges are paid, you will receive the remaining amount from the school, unless you authorized the school to release the funds to your child. Any funds you or your child receives must be used to pay the child’s educational expenses.

General Program Requirements

• Be a parent of a dependent postsecondary student who is working toward a postsecondary degree or certificate; and
• Not have an adverse credit history.

Loan Terms

Maximum Loan Amount: Your child’s cost of attendance minus other financial aid. For example, if your child’s cost of attendance is $6,000, and he or she receives $4,000 in other financial aid, you can borrow up to $2,000 in PLUS Loans.

Interest Rate: The interest rate is variable (adjusted annually on July 1), but it does not exceed 9 percent. You’ll be notified any time the variable rate changes. For the current PLUS Loan interest rate.

Maximum Loan Length: up to 30 years, depending on the amount borrowed and the repayment plan chosen. There are a number of repayment plans offered through the Direct and FFEL programs

Application Process
For more information, Select above the Type of Loan that you want.

Program Description
The Federal Housing Administration makes it easier for consumers to obtain affordable home improvement loans by insuring loans made by private lenders to improve properties that meet certain requirements

General Program Requirements
Eligible borrowers include the owner of the property to be improved, the person leasing the property (provided that the lease will extend at least 6 months beyond the date when the loan must be repaid), or someone purchasing the property under a land installment contract.

Loan Terms
Market Interest rate with variable Upfront Fees and no Pre-payment penalties. Maximum Length of Loan 20 years. Maximum Loan Amount $25,000 for one property, up to $60,000 for multiple units. Monthly Payment Frequency.

Select above the Type of Loan that you want.

Program Description

US DOT Loan Guaranty for Small & Disadvantaged Businesses

• The loan guaranty provides a revolving line of credit for work on transportation related contracts.
• DOT guarantees up to $750,000 in loans with participating lenders for small & disadvantaged businesses.

Who Can Apply: Businesses that meet the 4 qualifications below:

• The business has a three (3) year track record –i.e., you are not a start-up business.
• The business is current on all federal and state taxes.
• The business is certified as a DBE by your State or by the Small Business Administration (Section 8(a): Hub zone; Service Disabled Veteran Owned Businesses, Women Owned Businesses).
• The business has a DOT federally funded transportation related contract –i.e., maintenance, rehabilitation, restructuring, improvement, or revitalization of any local, state or federal transportation system. Your source of contract dollars defines whether it is considered transportation related.

How It Works: Your contract is your primary collateral.

• Loans can be renewed for up to five (5) years.
• The line of credit is for accounts receivable arising from transportation related contracts.
• Loan application and fee is submitted by US DOT to a participating lender.

General Program Requirements

All applicants must meet the STLP eligibility requirements to be considered for a line of credit guaranteed by USDOT. The eligibility requirements are designed to ensure that all recipients of DOT financial assistance are currently performing on a USDOT federally-assisted transportation-related contract. All businesses that are considered for financing under the DOT/OSDBU loan program must be:

• For-profit, with three (3) years in business
• Certified as a Disadvantaged Business Enterprise (DBE) by an agency applying DOT certification guidelines (49 CFR, Part 23 & 26) or by the Small Business Administration in one of the following categories:
• 8(a) Business Development Program
• Small Disadvantaged Business (SDB)
• Service Disabled Veteran-Owned Business (SDVOB)
• HUBZone
• Woman-Owned Business (WOB)

Loan Terms

The loan is a line of credit used for short-term working capital needs, specifically the carrying of accounts receivables generated by transportation-related contracts and subcontracts. The maximum loan amount is $750,000.00. Borrowers pay a loan processing fee of $150.00.

Application Process

Select above the Type of Loan that you want.

Program Description

This program can help individuals buy a single family home in which they intend to live. While HUD does not lend money directly to buyers to purchase a home, FHA-approved lenders make loans through a number of FHA-insurance programs.

General Program Requirements
In order to qualify for this benefit program, you must be a current or prospective homeowner.

Application Process

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Program Description

In exchange for a two-year commitment to your research career, NIH will repay up to $35,000 per year of your qualified repayable educational debt, pay an additional 39% of the repayments to cover your Federal taxes, and may reimburse state taxes that may result from these payments.

General Program Requirements

In order to qualify for this benefit program, you must be a U.S. citizen (or U.S. national or permanent resident) and have a M.D., Ph.D., Psy.D., Pharm. D., D.O., D.D.S., D.M.D., D.P.M., D.C., N.D., DVM or equivalent doctoral degree from an accredited institution.

Application Process

Select above the Type of Loan that you want.

Program Description

Consolidation Loans are available to most borrowers of Federal education loans and comes from the following sources:

• Federal Consolidation Loans are made through Federal Family Education Loan (FFEL) Program. While FFEL funds come from private lenders, such as banks and credit unions, they are subsidized and supported by the U.S. Department of Education. You repay a FFEL Consolidation Loan to the private lender that made the loan or to its designated agency.
• Direct Consolidation Loans are made by the U.S. Department of Education. You repay a Federal Consolidation Loan to the U.S. Department of Education.

General Program Requirements

Most Federal student loans are eligible for consolidation, including subsidized and unsubsidized Direct and Federal Family Education (FFEL) Stafford Loans, Direct and FFEL PLUS Loans (parent loans), Federal Perkins Loans, Federal Nursing Loans, and Health Education Assistance Loans. Private educational loans are not eligible.

You can get an FFEL Consolidation Loan during your grace period, once you have entered repayment, or during periods of deferment or forbearance. Direct Consolidation Loans are also available when you are still in school. Borrowers who are in default must meet certain requirements before they may consolidate their loans.

Maximum Loan Amount: none

Application Process

Select above the Type of Loan that you want.

Program Description
The Department OF Education has launched the Federal Perkins Loans aiming to help financially needy undergraduate students and graduate students meet the cost of postsecondary education. The award is made by the school based on the availability of funds. A Federal Perkins Loans carries a fixed interest rate (currently 5%) and must be repaid beginning after a nine-month grace period following the date when the student is no longer enrolled on at least a half-time basis.

General Program Requirements
In order to qualify for this benefit program, you must be a student pursuing a postsecondary educational degree or certificate.
Loan Terms

Maximum Loan Amounts: $4,000 annually for undergraduate students (up to $20,000 total as an undergraduate), and $6,000 annually for graduate students (up to $40,000 total, including any Perkins Loans you had as an undergraduate student).

Select above the Type of Loan that you want.

Program Description
The SBA (Small Business Administration) has launched The MicroLoan Program which provides small loans to start-up, newly established, or growing small business concerns. Under this program, SBA makes funds available to nonprofit community based lenders (Microlender Intermediaries) which, in turn, make loans to eligible borrowers in amounts up to a maximum of $35,000. The average loan size is about $10,500. Applications are submitted to the local intermediary and all credit decisions are made on the local level.

General Program Requirements
Each intermediary lender has its own lending and credit requirements. However, business owners contemplating application for a microloan should be aware that intermediaries will generally require some type of collateral, and the personal guarantee of the business owner.

Loan Terms
The maximum term allowed for a microloan is 6 years. However, loan terms vary according to the size of the loan, the planned use of funds, the requirements of the intermediary lender, and the needs of the small business borrower. Interest rates vary, depending upon the intermediary lender and costs to the intermediary from the U.S. Treasury.

Select above the Type of Loan that you want.