EXAMPLES OF FUNDED PROJECTS: Not applicable. CRITERIA FOR SELECTING PROPOSALS: Not applicable. Federal Direct Loan 128 AUTHORIZATION: Higher Education Act of 1965, Title IV, Part D, as amended. OBJECTIVES: To provide loan capital directly from the Federal government (rather than through private lenders) to vocational, undergraduate, and graduate postsecondary school students and their parents. TYPES OF ASSISTANCE: Direct Loans. USES AND USE RESTRICTIONS: To help defray costs of education at a participating school. Generally, a student borrower is not required to make any payments on the principal of a direct subsidized or unsubsidized loan during the time the borrower is in school. Repayment on these loans will begin six months after the student ceases to carry at least one-half the normal full-time academic workload. The repayment period for a Direct PLUS loan begins on the day after the loan is fully disbursed. The repayment period for a Direct Consolidation Loan begins on the day the loan is disbursed, unless the consolidation loan includes a Direct Loan or a Federal Family Education Loan program for which the borrower is in an in-school period at the time of consolidation. In this case, the repayment period begins six months after the borrower ceases at least half-time enrollment. ELIGIBILITY REQUIREMENTS: Applicant Eligibility: The applicant must be a U.S. citizen, national, or
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