Arc Project Management – ARC Projects http://arcprojects.org/ Sun, 22 Aug 2021 15:42:53 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://arcprojects.org/wp-content/uploads/2021/08/icon-150x150.png Arc Project Management – ARC Projects http://arcprojects.org/ 32 32 Online direct loan for bad credit – Get cheap payday loans for poor credit https://arcprojects.org/direct-loan-for-bad-credit-online-discover-cheap-payday-loans-for-bad-credit/ https://arcprojects.org/direct-loan-for-bad-credit-online-discover-cheap-payday-loans-for-bad-credit/#respond Fri, 06 Aug 2021 14:28:23 +0000 https://arcprojects.org/?p=30 Can I borrow money if I’m blacklisted? Are you on the blacklist? Do you fear that you won’t be able to borrow money again? These tips will help you get a payday loan with bad credit. Get cash fast with low-interest payday loans It can be difficult to borrow money when you are on the “blacklist”. It is […]]]>

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Dallas-based Cambium Learning secures $ 2.2 billion direct loan as private investors replace banks https://arcprojects.org/dallas-based-cambium-learning-secures-2-2-billion-direct-loan-as-private-investors-replace-banks/ https://arcprojects.org/dallas-based-cambium-learning-secures-2-2-billion-direct-loan-as-private-investors-replace-banks/#respond Thu, 05 Aug 2021 15:36:47 +0000 https://arcprojects.org/dallas-based-cambium-learning-secures-2-2-billion-direct-loan-as-private-investors-replace-banks/ Blackstone Group Inc. has partnered with other lenders to provide $ 2.15 billion in financing directly to Dallas-based Cambium Learning Group Inc., bypassing banks in one of the largest loans of its kind ever made by investors. Firms have secured increasingly large loans directly from investors without bank intermediation, as fund managers have grown eager […]]]>

Blackstone Group Inc. has partnered with other lenders to provide $ 2.15 billion in financing directly to Dallas-based Cambium Learning Group Inc., bypassing banks in one of the largest loans of its kind ever made by investors.

Firms have secured increasingly large loans directly from investors without bank intermediation, as fund managers have grown eager to deploy a record $ 364 billion in funds they have raised to provide this type. funding.

The Cambium deal, known as a tranche, is the third-largest new direct loan on record, according to data compiled by Bloomberg. Cambium, which was acquired in 2018 by private equity firm Veritas Capital, is one of the country’s leading online training and testing companies.

Blackstone led the $ 2.15 billion deal that will refinance the company’s existing $ 1.3 billion loan as part of a larger recapitalization, which also includes $ 500 million in private debt, according to a person knowledgeable about the subject who is not authorized to speak in public. . Blackstone has confirmed the size of the loan transaction, which closed this month, without giving further details. Three other lenders provided unitranche funding, the person with the details said.

As recently as 2019, it was rare to see private loans exceeding $ 500 million. But as the private credit market swelled to a trillion dollar industry – and banks pulled back from lending to midsize businesses – direct lending swelled.

Three of the largest new unitranches – each exceeding $ 2 billion – have been signed in the past three months, including a record $ 2.6 billion loan for Thoma Bravo’s takeover of Stamps.com. Unitranches are loans that combine senior and subordinated debt into a single facility.

Cambium is a frequent issuer in the bank-traded leveraged loan market. It increased the size of a loan in March to $ 1.3 billion, paying a spread of 4.5 percentage points from the London interbank offered rate for the add-on. The new debt will refinance this loan, although pricing details were not disclosed.

The Cambium agreement follows the Stamps.com loan, which was provided by Blackstone, Ares Management Corp., PSP Investments and the Thoma Bravo loan unit.

Earlier this year, Blue Owl’s predecessor, Owl Rock Capital Partners, led a $ 2.3 billion unitranche to help fund Thoma Bravo’s takeover of Calypso Technology Inc. Other lenders, including the private credit investment platform of Goldman Sachs Group Inc., the credit arm of Thoma Bravo and PSP Investments, contributed to the funding.

Lisa Lee and Olivia Raimonde, Bloomberg

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Exact loans at the same time – Direct lender Instant decision direct loans from the loan provider – Azerbaijan Intelligence https://arcprojects.org/exact-loans-at-the-same-time-direct-lender-instant-decision-direct-loans-from-the-loan-provider-azerbaijan-intelligence/ https://arcprojects.org/exact-loans-at-the-same-time-direct-lender-instant-decision-direct-loans-from-the-loan-provider-azerbaijan-intelligence/#respond Wed, 04 Aug 2021 21:36:46 +0000 https://arcprojects.org/exact-loans-at-the-same-time-direct-lender-instant-decision-direct-loans-from-the-loan-provider-azerbaijan-intelligence/ Exact Loans At The Same Time – Direct Lender Instant Decision Direct Loan Provider Loans Instant decision direct loans Money paid within five minutes No late payment Pay off early to save a lot of interest Short term installment loans that are temporary Instant decision direct loans Money paid within five minutes No late refund […]]]>
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Anvil Channel closes $ 65 million direct loan to Certus Oil & Gas https://arcprojects.org/anvil-channel-closes-65-million-direct-loan-to-certus-oil-gas/ https://arcprojects.org/anvil-channel-closes-65-million-direct-loan-to-certus-oil-gas/#respond Mon, 26 Jul 2021 07:00:00 +0000 https://arcprojects.org/anvil-channel-closes-65-million-direct-loan-to-certus-oil-gas/ HOUSTON, July 26, 2021 / PRNewswire / – Anvil Channel Energy Solutions today announced the final closing of a US $ 65,000000,000 Senior Secured Loan Facility to Certus Oil & Gas, Inc., supporting the acquisition of generating assets in the center Alberta. This transaction marks the first cross-border transaction undertaken by Anvil Channel’s new direct […]]]>

HOUSTON, July 26, 2021 / PRNewswire / – Anvil Channel Energy Solutions today announced the final closing of a US $ 65,000000,000 Senior Secured Loan Facility to Certus Oil & Gas, Inc., supporting the acquisition of generating assets in the center Alberta. This transaction marks the first cross-border transaction undertaken by Anvil Channel’s new direct energy lending initiative.

“We are delighted to have successfully executed this transformative transaction with the support of the Anvil team; Anvil’s structured creative capital solution has come at a critical juncture in our business growth cycle. ” noted Rob Brady President and CEO of Certus.

Anvil seeks to bridge the gap between bank lenders, which have largely withdrawn from the micro- and mid-cap market in the United States, and Canada, and generally more expensive mezzanine and preferred stock providers.

“We were particularly pleased to provide a liquidity solution in this still difficult energy space.” Noted Cary Meadow, Chairman and CEO of Anvil Channel. “This transaction is a perfect representation of Anvil’s thesis and mission – to provide established producers with the acquisition and development capacity they so badly need to meet their growth goals in a tight cash market.”

The proceeds from the loan were used to finance the acquisition of Sitka Exploration Ltd., providing assets that are geographically and technically complementary to the existing Certus platform.

Anvil continues to seek out strong sponsor partners with in-depth knowledge of the upstream E&P space who require acquisition, refinancing and development capital to produce assets.

Note David O’Driscoll, Co-CIO and President of Anvil Channel, “We are delighted to partner with the Certus team to support their transformative acquisition and next phase of growth. Our broad investment mandate allows us to consider supporting teams management systems proven in Canada as well as in the United States, and we are delighted to complete this first cross-border transaction as soon as possible. Echoing this sentiment, Co-CIO James Avery said: An extremely competitive alternative to other sources of capital while maintaining a comfortable price level for the Company by tailoring costs to production and cash flow and we look forward to continuing to explore new opportunities throughout the year. “

About Certus Oil and Gas Inc.

Certus is a private company that operates in the center Alberta since 2017.

About Anvil Channel

Anvil Channel Energy Solutions is a private direct lender focused on the upstream energy space. With offices in new York and Houston the company invests in narrowly limited scopes of value-driven oil and gas opportunities backed by several leading institutional investors. More information is available on its website: http://www.anvilcp.com

SOURCE Anvil Channel Energy Solutions

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Punjab increased income limit for loans under direct lending program to Rs.3Lakh: Dharmsot https://arcprojects.org/punjab-increased-income-limit-for-loans-under-direct-lending-program-to-rs-3lakh-dharmsot/ https://arcprojects.org/punjab-increased-income-limit-for-loans-under-direct-lending-program-to-rs-3lakh-dharmsot/#respond Wed, 21 Jul 2021 09:45:03 +0000 https://arcprojects.org/punjab-increased-income-limit-for-loans-under-direct-lending-program-to-rs-3lakh-dharmsot/ CHANDIGARH: Under the direct loan program managed by the Punjab Scheduled Castes Land Development and Finance Corporation, the income limit for borrowing has been raised from Rs. 1 lakh to Rs. 3 lakh. Disclosing this here today, Punjab’s Minister for Social Justice, Empowerment and Minorities Mr. Sadhu Singh Dharmsot said the state government has extended […]]]>

CHANDIGARH: Under the direct loan program managed by the Punjab Scheduled Castes Land Development and Finance Corporation, the income limit for borrowing has been raised from Rs. 1 lakh to Rs. 3 lakh.

Disclosing this here today, Punjab’s Minister for Social Justice, Empowerment and Minorities Mr. Sadhu Singh Dharmsot said the state government has extended loan sanctioning powers up to Rs .1 lakh to the district directors of the company at the district level for the prompt elimination of debt cases for the convenience of the people. Likewise, the district level selection committees were revised and a new state level committee was formed under the chairmanship of the Social Justice, Empowerment and Minorities Officer to provide loans to the needy. as soon as possible.

Mr Dharmsot said that SC, the main goal of the company is to provide low-interest loans to registered castes and people with disabilities for self-employment such as dairy farms, grocery stores, clothing stores , formwork, logging, higher education loans. So that their economic status can be improved and they can be lifted from the poverty line.

The Minister of Social Justice said the Company has provided financial assistance of Rs. 2,293.73 lakh to 2,116 beneficiaries even during difficult times of COVID during the current fiscal year 2021-2022. The company had set a target of disbursing Rs 40 crore to 1,400 borrowers, under which a loan grant of Rs 624.81 lakh has been disbursed to 562 beneficiaries so far.

Mr Dharmsot further said that the government of Punjab, during his nearly four-year tenure, provided loans of Rs. 8,066.23 lakh to 8,590 eligible and needy SC youth. In addition, the state government has given enormous relief to debtors by canceling the debts of 14,260 beneficiaries in the amount of Rs 4,540.80 lakh.

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Department of Education: Repeal of the restriction on the subsidized use limit of the federal direct loan program William D. Ford https://arcprojects.org/department-of-education-repeal-of-the-restriction-on-the-subsidized-use-limit-of-the-federal-direct-loan-program-william-d-ford/ https://arcprojects.org/department-of-education-repeal-of-the-restriction-on-the-subsidized-use-limit-of-the-federal-direct-loan-program-william-d-ford/#respond Mon, 19 Jul 2021 15:34:17 +0000 https://arcprojects.org/department-of-education-repeal-of-the-restriction-on-the-subsidized-use-limit-of-the-federal-direct-loan-program-william-d-ford/ B-333378 July 1, 2021 The Honorable Patty MurrayChairThe Honorable Richard BurrRanking MemberCommittee on Health, Education, Work and PensionsUnited States Senate The Honorable Robert C. “Bobby” ScottPresidentThe Honorable Virginie FoxxRanking MemberEducation and Labor CommissionHouse of Representatives Matter: Department of Education: Repeal of the restriction on the subsidized use limit of the federal direct loan program William […]]]>

B-333378

July 1, 2021

The Honorable Patty Murray
Chair
The Honorable Richard Burr
Ranking Member
Committee on Health, Education, Work and Pensions
United States Senate

The Honorable Robert C. “Bobby” Scott
President
The Honorable Virginie Foxx
Ranking Member
Education and Labor Commission
House of Representatives

Matter: Department of Education: Repeal of the restriction on the subsidized use limit of the federal direct loan program William D. Ford

Pursuant to Section 801 (a) (2) (A) of Title 5, United States Code, this is our report on a major rule promulgated by the Department of Education (Department) entitled “Repeal of the William D. Ford Federal Direct Loan Program Subsidized Limit Restriction ”(RIN: 1840-AD60). We received the rule on June 17, 2021. It was published in the Federal Register as final settlement on June 14, 2021. 86 Fed. Reg. 31432. The effective date is August 13, 2021.

According to the ministry, the Secretary of Education, thanks to this action, removed and amended the regulations to comply with the changes made by the 2021 Consolidated Appropriations Act. See in general Pub. L. n ° 116-260, 134 Stat. 1182 (December 27, 2020). The ministry said the secretary removed the Subsidized Use Loan Limit (SULA) restriction for any borrower who receives a Stafford Direct Federal Subsidized Loan first disbursed on or after July 1, 2021, regardless the grant year associated with the loan. The Department has also stated that all grants will be reinstated retroactively to the date the grant loss was applied for all Federal Direct Granted Stafford loans with an outstanding balance as of July 1, 2021, and for all award years. since 2013-2014. award year. Finally, the ministry added that the secretary had also removed the regulations related to SULA and made other technical changes.

The Congressional Review Act (CRA) requires 60 days for the effective date of a major rule from the date of publication in the Federal Register or receipt of the rule by Congress, whichever is later. 5 USC § 801 (a) (3) (A). The 60-day period from the effective date may be waived, however, if the agency for good reason believes the delay is impractical, unnecessary or contrary to the public interest, and the agency incorporates a statement of the findings and its grounds in the rule Posted. 5 USC § 808 (2). Here, although the Ministry did not specifically mention the CRA’s 60-day deadline for the effective date, the Ministry stated that the notice and comment procedures were not necessary for this. final regulatory action and that it has found good reason to waive these procedures under Section 553 (b) (3) (B) of the Administrative Procedure Act. The Ministry says there are good reasons for waiving the Notice and Comment because this final regulatory action removes the regulations for which the legal authorization has been revoked. In addition, the Ministry stated that this final regulatory action does not adopt any new regulations and does not establish or affect substantive policy. The Ministry noted that the development of rules for notices and comments is not necessary because it does not have the discretion to retain these regulations or to implement them in a different way, independently. public opinion and comments. Therefore, according to the department, the Secretary, under 5 USC § 553 (b) (B) (3), determined that the proposed regulations are unnecessary and, therefore, waived the development of notification rules. and commentary.

Attached is our assessment of Commerce’s compliance with the procedural steps required by Section 801 (a) (1) (B) (i) through (iv) of Title 5 with respect to the rule. If you have any questions about this report or would like to contact the GAO officials responsible for the assessment work relating to the purpose of the rule, please contact Shari Brewster, Deputy General Counsel, at (202) 512-6398.

Shirley A. Jones
Associate Legal Director

Pregnant

cc: Amanda Amann
Deputy Deputy Advocate General
Regulatory Services Division
Department of Education

PREGNANT

REPORT UNDER 5 USC § 801 (a) (2) (A) ON A MAJOR RULE
ISSUED BY THE
DEPARTMENT OF EDUCATION
ENTITLED
“REPEAL OF THE FEDERAL DIRECTIVE WILLIAM D. FORD
RESTRICTION OF THE LIMIT OF SUBSIDIZED USE OF THE LOAN PROGRAM ”
(RIN: 1840-AD60)

(i) Cost-benefit analysis

The Ministry of Education (the Ministry) provided an accounting statement for this final regulatory action. The Ministry said there would be a reduction in the paperwork burden on students and institutions through the elimination of information on subsidized usage limits in entry and exit counseling requirements. The Department estimates this benefit at $ 4.8 million at a discount rate of 3% and 7%. The ministry also said the costs to modify government student loan administration systems to implement the repeal of the subsidized use loan restriction would be $ 0.06 million at a discount rate. 7% and $ 0.05 million at a 3% discount rate. The Ministry added that there would be an increase in transfers of subsidized loans to eligible students. The transfers would amount to $ 96.2 million at a 7% discount rate and $ 98.7 million at a 3% discount rate. Finally, the Ministry said restoring the benefits of subsidized loans to affected borrowers would transfer $ 85.4 million at a 7% discount rate and $ 82.7 at a 3% discount rate.

(ii) Agency actions relating to the Regulatory Flexibility Act (RFA), 5 USC §§ 603-605, 607 and 609

The Department said the RFA did not apply to this final regulatory action because there were good reasons to forgo notice and comment procedures under 5 USC § 553.

(iii) Agency Actions Regarding Sections 202-205 of the Unfunded Mandates Reform Act 1995, 2 USC §§ 1532-1535

In its brief, the Department indicated that it considered that the preparation of a cost-benefit analysis of this final regulatory action was not applicable.

(iv) Other relevant information or requirements under laws and decrees

Administrative Procedure Act, 5 USC §§ 551 et seq.

According to the Ministry, there are good reasons to forgo the notice and comment procedures in this case because this final regulatory action removes the regulations for which the legal authorization has been revoked. The Ministry stated that this final regulatory action does not adopt any new regulations and does not establish or affect substantive policy. The Ministry noted that the elaboration of rules relating to opinions and comments is not necessary because it does not have the discretion to retain these regulations or to implement them in a different way, regardless of public opinion and comments. Therefore, according to the Department, the Secretary, under 5 USC §553 (b) (B) (3), determined that the proposed regulations are unnecessary and, therefore, waived the development of rules relating to reviews and comments.

The ministry also explained that under section 492 of the Higher Education Act 1965 (HEA), all regulations proposed by the ministry for programs authorized under Title IV of the HEA are subject to negotiated regulatory requirements. See in general 20 USC § 1098a. However, according to the ministry, Article 492 (b) (2) of the HEA provides that the development of negotiated rules may be waived for just cause when its use would be impracticable, unnecessary or contrary to the interest. public. Commerce asserts that there are good reasons to waive the negotiated rule-making requirement in this case, since, as explained above, rule-making by notice and comment is not necessary in this case. the species.

Red Tape Reduction Act (PRA), 44 USC §§ 3501-3520

The Ministry said this final regulatory action does not create any new intelligence gathering requirements. The Ministry noted that this final regulatory action removes the requirements related to the limit on the use of subsidized loans which was repealed by section 705 (a) of the Consolidated Appropriations Act, 2021. Pub. L. n ° 116-260 § 705 (a), 134 Stat. 1182, 3200 (Dec. 27, 2020). According to the Department, the total hourly burden is expected to decrease by $ 188,079 and the total decrease in costs is estimated at $ 4,742,901. This burden was associated with the collection of information entitled “William D. Ford Federal Direct Loan Program – 150% Limitation”, Office of Management, and Budget (OMB) Control Number
1845-0116.

Legal authorization of the rule

The Ministry promulgated this final regulatory action in accordance with Section 2401 of Title 28; articles 1070g, 1087a, et seq.., from Title 20; and Section 3702 of Title 31, United States Code.

Executive Decree No. 12866 (Planning and Revision of Regulations)

The Ministry said that the OMB has determined that this final regulatory action is an economically important measure and that it would have an annual effect on the economy of more than $ 100 million.

Executive Decree No. 13132 (Federalism)

The ministry did not specifically refer to the decree, but said it had determined that this final regulatory action would not unduly interfere with state, local or tribal governments in carrying out their governmental functions.

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HIG WhiteHorse Closes Latest Direct Lending Fund at $ 1.65 Billion | OK https://arcprojects.org/hig-whitehorse-closes-latest-direct-lending-fund-at-1-65-billion-ok/ https://arcprojects.org/hig-whitehorse-closes-latest-direct-lending-fund-at-1-65-billion-ok/#respond Mon, 19 Jul 2021 07:00:00 +0000 https://arcprojects.org/hig-whitehorse-closes-latest-direct-lending-fund-at-1-65-billion-ok/ Sami Mnaymneh and Tony Tamer, Co-CEOs of HIG, commented: “We are delighted with the success of HIG WhiteHorse. The strong response from our investors reflects their confidence in the capacity of our team and our differentiated strategy. HIG WhiteHorse, the credit arm of HIG Capital (“HIG”), a leading global alternative investment firm with $ 44 […]]]>

Sami Mnaymneh and Tony Tamer, Co-CEOs of HIG, commented: “We are delighted with the success of HIG WhiteHorse. The strong response from our investors reflects their confidence in the capacity of our team and our differentiated strategy. HIG WhiteHorse, the credit arm of HIG Capital (“HIG”), a leading global alternative investment firm with $ 44 billion in equity under management, announced the closing of its latest direct lending strategy, HIG WhiteHorse Direct Lending Fund – 2020 (the “Fund”). The Fund closed with total capital commitments of approximately $ 1.65 billion *, significantly exceeding its target. The Fund will continue HIG’s successful investment strategy of to provide first-rate, tailored, secure financing solutions to companies primarily owned by non-sponsors in the United States.

Jordan Peer, Head of HIG Capital Formation, added: “The Fund has received strong support from a diverse and global investor base in North America, Europe, Asia and the Middle East, including sovereign wealth funds. , public and company pensions, consultants, foundations, endowment funds. , and family offices.

Stuart Aronson, Head of Direct Lending in the United States, said: “The next few years will present an irresistible opportunity to partner with non-sponsored companies in need of private debt solutions. HIG’s synergistic platform is well positioned to continue to build on HIG’s long track record as a provider of value-added debt to leading small and mid-cap companies.

About HIG Capital

HIG is a leading global private equity and alternative asset investment firm with $ 44 billion in equity under management. ** Headquartered in Miami and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the United States, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, HIG specializes in providing debt capital and equity capital to small and medium-sized enterprises, using a flexible and operational targeted / value-added approach:

HIG’s equity funds invest in business buyouts, recapitalizations and company spin-offs of both profitable and underperforming manufacturing and service companies. direct origination), as well as in secondary markets. HIG is also a primary manager of CLO, through its WhiteHorse family of vehicles, and operates a publicly traded BDC, WhiteHorse Finance. HIG’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its inception in 1993, HIG has invested and managed more than 300 companies around the world. The company’s current portfolio includes more than 100 companies with combined sales of over $ 30 billion. For more information, please visit HIG’s website at www.higcapital.com.

** Based on total capital commitments managed by HIG Capital and its subsidiaries.

* Includes the Fund and other investment vehicles raised jointly with the Fund, including separately managed accounts that will invest with the Fund.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210719005095/en/

CONTACT: Stuart Aronson

General director

saronson@whitehorse.com

Peer from Jordan

General director

KEYWORD: UNITED STATES NORTH AMERICA CANADA FLORIDA

jpeer@higcapital.com

SOURCE: HIG WhiteHorse

INDUSTRY KEYWORD: SMALL BUSINESS BANKING PROFESSIONAL SERVICES FINANCE

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What is a federal direct loan? https://arcprojects.org/what-is-a-federal-direct-loan/ https://arcprojects.org/what-is-a-federal-direct-loan/#respond Wed, 23 Dec 2020 08:00:00 +0000 https://arcprojects.org/what-is-a-federal-direct-loan/ Attending college can take a toll on your finances, with most students paying more than $ 20,000 per year. Students can look to scholarships, grants, and work-study programs to help pay the cost, but many students should explore student loans as well. A federal direct loan is a type of student loan issued by the […]]]>

Attending college can take a toll on your finances, with most students paying more than $ 20,000 per year. Students can look to scholarships, grants, and work-study programs to help pay the cost, but many students should explore student loans as well. A federal direct loan is a type of student loan issued by the Department of Education that undergraduates and graduates can use to cover tuition costs. Keep reading to find out how a federal direct loan works and who it’s best for.

What is a federal direct loan?

The William D. Ford Federal Direct Loan Program, more commonly referred to as a “direct loan,” is the United States government’s student loan program. These federal loans are available for undergraduates, graduate and professional students, and parents of undergraduates. There are four types of federal direct loans, which include need-based loans and non-financial need-based loans.

How it works?

To see if you are eligible for direct loan financial aid, you will need to complete and submit the Free Federal Student Aid Application (FAFSA) by the form deadline. Your school may also have its own FAFSA deadline for determining your financial aid award, so ask your financial aid office for the due dates.

After your school reviews your FAFSA, it determines the types of help you are eligible for based on expected family contribution, your financial needs, and other factors. If you are eligible for Federal Direct Loans and your school has given you assistance, you will see the offer in your award letter.

You can choose to take some or all of the Direct Loan assistance that is offered to you. You will need to follow entry tips, which will remind you of your responsibility when accepting federal direct loans. Borrowers are also required to sign a principal promissory note, which outlines the details of your loan, including important repayment information.

Once these steps are completed, the Department of Education will release the funds directly to your school. The school will then allocate the funds to tuition and other fees that you owe. If there are any loan funds left, the school will pay them to you or your parents (for Direct PLUS loans).

Types of direct loans

There are a few different direct loans; which type you choose depends on your financial needs and grade level.

Direct Subsidized Loan

A direct subsidized loan is only available to undergraduates who have demonstrated financial need on their FAFSA. It offers the greatest benefit to student borrowers, as the interest is subsidized by the federal government (meaning the Department of Education pays the accrued interest) in the following scenarios:

  • When the pupil is enrolled at least half-time at school.
  • During the first six months after graduation or leaving school.
  • When the loan is deferred.

By default, direct subsidized loans are placed on a standard repayment plan. This plan divides your federal student loans into fixed and equal payments over a 10-year period. But you can change your repayment plan for free at any time. Currently, the interest rate on direct subsidized loans is 2.75%, and a small loan fee based on a percentage of your loan amount will be deducted before funds are disbursed.

Direct unsubsidized loan

Eligible undergraduate, graduate and professional students have access to direct unsubsidized loans. As the name suggests, unsubsidized direct loans are similar to subsidized direct loans, but they do not subsidize interest.

Instead, interest accumulates and students are responsible for any interest as soon as funds are disbursed. However, while a student is enrolled at least part-time at school, or deferred or withheld, he may choose not to pay interest. This will cause accrued interest to be capitalized, i.e. it will be added to the total loan balance.

Interest on unsubsidized direct loans is also 2.75% for undergraduate borrowers and 4.3% for graduate students. Both rates are fixed for the entire term and an origination fee applies before the loan is disbursed. These loans are automatically placed under the standard repayment plan, but you can choose to change your repayment plan at any time.

Direct PLUS loan

A Direct PLUS loan is available to eligible graduate or professional students or eligible parents of an undergraduate student. Depending on the borrower, it is commonly referred to as a “grad PLUS loan” or “parent PLUS loan”.

It is not a needs-based loan; in fact, it requires a credit check and you must meet the Department of Education borrower requirements to be approved for a Direct PLUS loan. However, applicants who do not have strong credit can still get financing if they can provide an endorser for the loan. An endorser is similar to a co-signer who guarantees that he will pay off the loan if you cannot. You could also get a PLUS loan despite having a bad credit history if you have proof of a mitigating circumstance that led to your adverse credit.

Most schools require a separate online application process for this type of direct loan, but students must still submit their FAFSA by the deadline. The interest rate on the grad PLUS and parent PLUS loans is 5.3 percent fixed, and a set-up fee will be deducted before funds are paid to the school.

Direct consolidation loan

Borrowers who have taken out multiple federal student loans can simplify their repayment experience with a direct consolidation loan. This type of loan combines all of your current eligible federal loans into one loan, with a monthly payment and a fixed interest rate. To consolidate your loans, they will need to be in repayment.

Applying for a direct consolidation loan is free and you have the option of extending the term of your loan up to 30 years. This lowers your monthly payment, but it also means you’ll pay more for your student debt over time.

There are other drawbacks to a direct consolidation loan. Your fixed interest rate is determined based on the weighted average of all loans being consolidated, so you won’t necessarily save on interest charges using this method. Consolidation also adds any unpaid interest on the original loans to the principal balance of the new consolidation loan.

Finally, if you are working towards the forgiveness of the civil service loans, a direct consolidation loan will wipe the credit of the 120 payments required for the forgiveness. You will have to start the process again.

How Much Money Can I Borrow for a Federal Direct Loan?

Federal direct loan borrowing limits vary depending on the type of direct loan and student status.

  • Dependent undergraduates can borrow up to $ 31,000 in total in direct loans, of which $ 23,000 may be subsidized.
  • Independent undergraduate students can borrow up to $ 57,500 in total in direct loans, of which $ 23,000 may be subsidized.
  • Graduate students or independent professionals can borrow up to $ 138,500 in direct unsubsidized loans and up to the full cost of attendance with grad PLUS loans.

Who is best for a direct loan?

A direct loan is best for students and parents who have exhausted grant and scholarship opportunities but still need additional help to supplement education costs. Since most federal direct loans do not require a credit check, it is ideal for borrowers who have yet to build credit or have adverse credit.

It is also the best option, especially for those who have demonstrated financial need and are eligible for direct subsidized loans. And since all interest rates on direct loans are fixed, it’s ideal for borrowers who prefer predictable monthly payments.

Final considerations

It is best to avoid student debt if possible. But as tuition fees continue to rise, it may be necessary to take out student loans to continue your desired educational path. If you need to borrow money for your education, use federal direct loans first. You’ll guarantee borrowers protections, such as income-based repayment plans, loan forgiveness, and extended deferral or forbearance that private student loans typically don’t offer.

Learn more:

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West Virginia Economic Development Authority Approves $ 5.5 Million Direct Loan for Brooke County Power Plant | News, Sports, Jobs https://arcprojects.org/west-virginia-economic-development-authority-approves-5-5-million-direct-loan-for-brooke-county-power-plant-news-sports-jobs/ https://arcprojects.org/west-virginia-economic-development-authority-approves-5-5-million-direct-loan-for-brooke-county-power-plant-news-sports-jobs/#respond Wed, 23 Sep 2020 07:00:00 +0000 https://arcprojects.org/west-virginia-economic-development-authority-approves-5-5-million-direct-loan-for-brooke-county-power-plant-news-sports-jobs/ CHARLESTON – The West Virginia Economic Development Authority has approved the Brooke County Power Project for a direct loan to help bring the natural gas plant closer to reality. According to the West Virginia Department of Commerce, the board of directors of the West Virginia Economic Development Authority on September 9 approved a direct loan […]]]>

CHARLESTON – The West Virginia Economic Development Authority has approved the Brooke County Power Project for a direct loan to help bring the natural gas plant closer to reality.

According to the West Virginia Department of Commerce, the board of directors of the West Virginia Economic Development Authority on September 9 approved a direct loan of $ 5.5 million to the Energy Solutions Consortium Brooke County Power project.

“We look forward to the potential of this project to further diversify and grow West Virginia’s energy economy,” Ed Gaunch, cabinet secretary at the Commerce Department said in a statement on Tuesday.

Energy Solutions Consortium was seeking a $ 5.6 million loan guarantee from the Economic Development Authority for the proposed natural gas-fired power plant, but the Economic Development Authority felt that a direct loan would be a better course of action. for the project. Drew Dorn, CEO of Energy Solutions Consortium, said he viewed the loan as a sign of the state’s good faith.

“Brooke County Power appreciates the confidence the West Virginia Economic Development Authority has placed in this important project – which will become the largest downstream user of natural gas in Mountain State,” he said.

When completed, the 830 megawatt merchant power plant could supply power to up to 700,000 homes and sell power to the PJM Interconnection wholesale power market in 13 states. According to the project’s website, construction of the plant would create 1,164 direct and indirect jobs and 30 full-time jobs when completed.

Steve White, director of affiliated construction trades, said the loan approval came as “Great relief”.

“We have worked hard to support this project and that means close to $ 100 million in salaries and benefits for local construction” White said by phone Tuesday.

The plant is expected to have an economic impact of $ 1.25 billion for West Virginia during the construction phase and an economic impact of $ 440 million per year for Brooke County and surrounding areas. It would provide $ 1 million in payment in lieu of taxes to Brooke County, with $ 433,000 in annual payments to the Brooke County Commission and $ 167,000 to the County School Board.

The plant would be supplied with natural gas from a pipeline crossing southwestern Pennsylvania connected to the Rover Pipeline, which delivers natural gas to Canada from West Virginia, Ohio and Pennsylvania. Energy Solutions Consortium says the plant will need $ 177.5 million per year in natural gas.

The plant was supported by natural gas trading groups, as well as the West Virginia Chamber of Commerce.

“The West Virginia Chamber of Commerce is delighted to see the West Virginia Economic Development Authority grant a loan … for ESC Brooke County Power,” said Brian Dayton, vice president of policy and advocacy for the chamber. “This project illustrates the kind of downstream investment we are looking for in our state’s vast natural gas resources.

“In addition, the support of the Brooke County Commission, the West Virginia Chamber of Commerce, the West Virginia Independent Oil and Gas Association and the Affiliated Construction Trades is very important to us as we all work together for the success of a power plant using local labor. and local natural gas ”, Dorn said.

The project came under further scrutiny after Governor Jim Justice – whose private coal companies supply and sell coal to power plants – asked the Economic Development Authority to review the Brooke County Power project, wondering why the plant needed the loan, where the manpower needed to build the plant and the state that would supply the natural gas. The West Virginia Coal Association – which supported Justice’s re-election campaign for governor – also criticized the project for endangering the jobs of coal miners. Neither the charcoal association nor the justice system were available for comment on Tuesday.

(Adams can be contacted at sadams@newsandsentinel.com)

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What is a federal direct loan? Your questions answered https://arcprojects.org/what-is-a-federal-direct-loan-your-questions-answered/ https://arcprojects.org/what-is-a-federal-direct-loan-your-questions-answered/#respond Wed, 27 May 2020 07:00:00 +0000 https://arcprojects.org/what-is-a-federal-direct-loan-your-questions-answered/ Along with scholarships, student loans are an important form of federal student assistance that can help pay for your education. But before you borrow, it’s important to understand the types of federal student loans available and how you can use them to finance your education. This guide will explore the types of federal loans, as […]]]>

Along with scholarships, student loans are an important form of federal student assistance that can help pay for your education. But before you borrow, it’s important to understand the types of federal student loans available and how you can use them to finance your education.

This guide will explore the types of federal loans, as well as tips on how to get a loan, so you can pay for your degree while avoiding too much debt.

What are Federal Direct Loans?
Types of federal student loans
How to get a federal direct loan to college
Can You Get A Federal Direct Loan Without Filing From FAFSA?
How do federal direct loans compare to private loans?

What are Federal Direct Loans?

Federal Direct Loans are government-funded student loans offered through the Federal William D. Ford Direct Loans Program, also known as the Direct Loans Program.

Through this program, Federal Student Aid provides funding to undergraduates, parents of undergraduates, and students in graduate or vocational programs. These loans help students cover their costs while they are enrolled in college or university.

Federal direct loans generally mean subsidized and unsubsidized loans for undergraduates. These types of direct loans can also be called Stafford loans.

Types of federal student loans

The direct loan program is the most common way for U.S. students to borrow for college. The total outstanding balance of all federal direct loans is $ 1.24 trillion, according to Student Loan Hero’s student loan debt statistics.

In addition, two other federal student loan programs – Perkins Loans and Federal Family Education Loans (FFELs) – are no longer available. This means that all new federal student loans are made under the direct loan program.

Here is an overview of the five types of federal direct loans and their basic characteristics:

Type of direct loan Who can use it Interest rate (2019-20) One-time loan fee Annual loan limit
Subsidized Undergraduate students with demonstrated financial need 5.05% 1.062% Up to $ 5,500 per school year
Not subsidized Undergraduate students 5.05% 1.062% Up to $ 7,500 per academic year for dependent students and up to $ 12,500 per academic year for independent students
Not subsidized (for graduate students) Students in the process of obtaining a graduate or vocational diploma 6.6% 1.062% Up to $ 20,500 per school year
MORE Graduate students and parents of undergraduates 7.08% 4.236% Tuition fees after application of all student aid
Consolidation Student loan borrowers in repayment Weighted average interest rates on consolidating loans rounded to the nearest eighth of a percent

Direct subsidized loans offer borrowers an interest subsidy that reduces the interest they repay. Loans are deferred while the student is enrolled in university and interest charges do not apply. Instead, interest is paid by the Department of Education during the deferral.

However, direct subsidized loans are the only form of needs-based assistance offered under the direct loan program. Students must have a demonstrated financial need, which is calculated based on the information they provide in the Free Application for Federal Student Aid (FAFSA).

The direct loan program also offers borrowers in repayment the option of modifying their student loans. Direct Consolidation Loans combine different federal student loans into one and give borrowers the ability to simplify or even reduce their monthly payments.

How to get a federal direct loan to college

Students who plan to take advantage of the direct loan program will need to take certain steps to qualify for and receive a direct loan. Here are five things you need to take care of:

1. Meet the eligibility criteria for federal assistance
2. Create your FSA ID
3. Complete and submit your FAFSA
4. Review your financial aid allocation.
5. Claim your direct loans

1. Meet the eligibility criteria for federal assistance

The laws and policies that implement the Direct Loan Program and other federal student aid require students to follow certain guidelines to participate. So, to find out if you qualify, be sure to meet federal student aid requirements.

2. Create your FSA ID

Typically, you will need to submit a FAFSA to access federal direct loans.

To file a FAFSA, you will need to create an account with the Federal Student Aid Office (FSA). When you do, you’ll also create an FSA ID, which you’ll use to log into your account and submit your FAFSA.

3. Complete and submit your FAFSA

Visit FAFSA.ed.gov for start a new FAFSA, which takes about an hour or less. If you are a dependent student (most single students under the age of 24 are), your parents will also need to complete forms to submit with your FAFSA.

4. Review your financial aid allocation.

After you submit your FAFSA, the college you are enrolled in or accepted in will use the information to assess you for student aid. The college will send you a financial aid award letter that will describe any student aid that may be available to you, including direct loans.

You will then need to assess your tuition fees and determine how much you will need to borrow to cover them. From there, you can choose which direct loans to use.

Typically, you’ll want to use direct loans that you’re eligible for in this order:

  • Subsidized direct loans, because they include an interest subsidy
  • Direct unsubsidized loans, which are available to both undergraduates and graduate students (note that unsubsidized loans for graduate students have a higher interest rate)
  • PLUS loans because they have the highest interest rates and fees

5. Claim your direct loans

Next, you will apply for the direct loans you want to use and the amounts you intend to borrow from your college financial aid office. You will need to sign a promissory note, which is your commitment to repay and honor the terms of your direct loans.

From there, your student loans will go to your college, which will apply the funds to any unpaid fees, such as tuition or campus living expenses. The remaining funds will then be paid to you. If you have a large amount left over, you might consider paying off the loan money so that you owe less debt later.

Can You Get A Federal Direct Loan Without Filing From FAFSA?

Submitting to a FAFSA is the fastest and easiest way to get federal direct loans.

However, parents of some dependent students may decline to submit a FAFSA. Or you might face other hurdles in submitting a FAFSA and getting subsidized or unsubsidized loans. Without a parent’s FAFSA, however, these students cannot be assessed or awarded federal student aid.

There might be a workaround if you talk to your college financial aid office. These financial aid administrators might be able to authorize students to borrow direct unsubsidized loans without a full FAFSA from a parent. Depending on your situation, they may also be able to put you in touch with other forms of help.

How do federal direct loans compare to private loans?

Private student loans, which are offered by banks or other private lenders instead of the federal government, may be an alternative for some students or parents. Here is a comparison of some keys differences between federal direct loans and private student loans:

Direct loans Private student loans
Loan eligibility Easy to get. You won’t need income, good credit, or a co-signer to qualify. PLUS loans are an exception and will require a non-adverse credit history. However, it is easier to get PLUS loans than private student loans. Borrowers must be eligible, so you will need a decent income and employment history, as well as good credit. These requirements will be difficult for many students to meet, and most of those who take out private student loans will have a co-signer.
Student loan rate Interest rates are fixed and determined by law. All borrowers benefit from the same rate regardless of their personal situation. Interest rates can be variable or fixed, and each borrower will pay a rate based on their creditworthiness. Well-qualified borrowers receive lower private student loan rates, which may be lower than direct loan rates.
Loan protections Federal student loans come with many ways to suspend or adjust payments: deferment and forbearance, including automatic deferment during university enrollment; income-based repayment plans; cancellation of the student loan, in certain cases; interest on subsidized direct loans paid during any deferral period. Private student loans have less protections than federal student loans. Each private lender sets their own forbearance and deferral rules, but private lenders rarely offer options as strong as those available for federal student loans.

Private student loans can be attractive to some students and their parents. For example, those facing the high interest rates of PLUS loans can find a private student loan that offers savings at a lower rate.

Generally, however, federal direct loans are the best choice for most students. These student loans are available to most students and offer extensive protections during repayment.

Other students could reach their federal student loan limits and still have costs to cover; private student loans could help close this funding gap.

Carefully compare the types of federal student loans, as well as their private loan counterparts, to make sure you understand how each choice could affect you both while you are in school and when you start paying off. If you are looking for private loans, be sure to look for private student loans that meet your needs.

Rebecca Safier and André Pentis contributed to this report.

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