four separate programs providing federally insured, low-interest, long-term loans to you or your parents to help you cover the costs of attending college. The federal government is your lender, not a bank or other lending institution, and makes the loan directly to you or your parents through the school. The school determines your eligibility, calculates the loan amount, and disburses the money. Once the loan is made, it is managed and collected by the U.S. Department of Education. Your direct loan is money that is borrowed and must be repaid after you leave school.

	Federal Direct Subsidized Loan -- Eligibility for this loan is based on the information you provided on your FAFSA. The federal government pays the interest on the loan while you are in school and during other deferment periods.
	Federal Direct Unsubsidized Loan -- Allows you to borrow money in addition to any subsidized loan amounts for which you may be eligible. You will be charged interest from the time an unsubsidized loan is disbursed until you pay the loan in full.
	Federal Direct PLUS Loan -- Allows the parents of dependent students to borrow up to the cost of attendance at BMCC. The federal government charges your parents interest from the date of the first disbursement until the loan is paid in full.
	Federal Direct Consolidation Loan -- Allows you to combine loans borrowed from different federal loan programs into one new loan with a new (possibly lower) interest rate and repayment schedule.