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A federal Direct Loan is a loan supplied from the Department of Education.
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In case you borrow an additional with the same lender — the lender could tack on a rollover or renewal charge on high of every part else you owe.
The applying course of is quick and you may get access to your funds instantly.
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In this example, the APR on the $1,500 loan is 359.0136%, based mostly on terms of 12 bi-weekly installment funds over 6 months.

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