11 U.S. Code § 523 - Exceptions to discharge | U.S. Code | US Law

34 CFR § 685.100 – The William D. Ford Federal Direct Loan Program. | CFR | US Law

§ 685.100 The William D. Ford Federal Direct Loan Program.

(a) Under the William D. Ford Federal Direct Loan (Direct Loan) Program (previously referred to as the Federal Direct Student Loan Program), the Secretary makes loans to allow a student or mum or dad to pay the prices of the student’s attendance at a postsecondary faculty. This half governs the Federal Direct Stafford/Ford Loan Program, the Federal Direct Unsubsidized Stafford/Ford Loan Program, the Federal Direct PLUS Program, and the Federal Direct Consolidation Loan Program. The Secretary makes loans underneath the next program elements:

(1)

(i) Federal Direct Stafford/Ford Loan Program (Direct Subsidized Loan Program), which offers loans to undergraduate, graduate, {and professional} students. Loans made underneath this program are known as Direct Subsidized Loans. Except as supplied in paragraph (a)(1)(ii) of this part, the Secretary subsidizes the curiosity whereas the borrower is in an in-school, grace, or deferment interval. Graduate {and professional} students are usually not eligible to obtain Direct Subsidized Loans for any interval of enrollment starting on or after July 1, 2012.

(ii) The Secretary doesn’t subsidize the curiosity that accrues through the grace interval on any Direct Subsidized Loan for which the primary disbursement is made on or after July 1, 2012 and earlier than July 1, 2014.

(2) Federal Direct Unsubsidized Stafford/Ford Loan Program (Direct Unsubsidized Loan Program), which offers loans to undergraduate, graduate {and professional} students. Loans made underneath this program are known as Direct Unsubsidized Loans. The borrower is liable for the curiosity that accrues throughout any interval.

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(3) Federal Direct PLUS Program (Direct PLUS Loan Program), which offers loans to oldsters of dependent students and to graduate or skilled students. Loans made underneath this program are known as Direct PLUS Loans. The borrower is liable for the curiosity that accrues throughout any interval.

(4) Federal Direct Consolidation Loan Program (Direct Consolidation Loan Program), which offers loans to debtors to consolidate sure Federal instructional loans. Loans made underneath this program are known as Direct Consolidation Loans.

(b) The Secretary makes a Direct Subsidized Loan, a Direct Unsubsidized Loan, or a Direct PLUS Loan solely to a student or a mum or dad of a student enrolled in a college that participates within the Direct Loan Program.

(c) The Secretary makes a Direct Consolidation Loan solely to a borrower who’s consolidating at the least one loan made underneath the Direct Loan Program or the Federal Family Education Loan (FFEL) Program.