ans ▁are ▁lo ans ▁directly ▁to ▁the ▁student ; ▁the ▁student ▁is ▁responsible ▁for ▁rep ay ment ▁of ▁the ▁loan . ▁These ▁lo ans ▁typically ▁have ▁low ▁interest ▁rates ▁and ▁do ▁not ▁require ▁a ▁credit ▁check ▁or ▁any ▁other ▁sort ▁of ▁coll ater al . ▁Student ▁lo ans ▁provide ▁a ▁wide ▁variety ▁of ▁de fer ment ▁plans , ▁as ▁well ▁as ▁extended ▁rep ay ment ▁terms , ▁making ▁it ▁easier ▁for ▁students ▁to ▁select ▁payment ▁methods ▁that ▁reflect ▁their ▁financial ▁situation . ▁There ▁are ▁federal ▁loan ▁programs ▁that ▁consider ▁financial ▁need . ▁ ▁Direct ▁subs id ized ▁lo ans ▁ ▁Direct ▁subs id ized ▁lo ans ▁are ▁the ▁most ▁sought , ▁as ▁they ▁have ▁few ▁requirements ▁other ▁than ▁en roll ment ▁and ▁demonstr ation ▁of ▁financial ▁need . ▁However , ▁the ▁amount ▁you ▁may ▁borrow ▁is ▁determined ▁by ▁your ▁school ▁and ▁may ▁not ▁exceed ▁your ▁financial ▁need , ▁which ▁is ▁based ▁on ▁the ▁E FC ▁from ▁your ▁F AF SA . ▁You ▁are ▁not ▁required ▁to ▁begin ▁rep ay ing ▁these ▁lo ans ▁for ▁as ▁long ▁as ▁you ▁are ▁in ▁school ▁at ▁least ▁half - time . ▁They ▁also ▁offer ▁a ▁six - month ▁grace ▁period , ▁meaning ▁you ▁do ▁not ▁begin ▁rep ay ing ▁them ▁until ▁six ▁months ▁after ▁you ▁leave ▁school . ▁These ▁lo ans ▁also ▁offer ▁a ▁de fer ment ▁period ▁in ▁some ▁cases . ▁ ▁Direct ▁un sub s id ized ▁lo ans ▁ ▁Direct ▁Un sub s id ized ▁Lo ans ▁are ▁available ▁to ▁all ▁under grad uate