The US government has a broad range of programs designed to give financial assistance to Americans in need. Some of these programs provide direct grants where the government gives you money, but far more involve loans. Whether you need to pay for college, start a new business, or fix a house after a flood, the government is there to lend money. If you need cash now for your business, to recover from disaster, or to address some other need, you may qualify for one of these programs.
Government loans may come directly from a government agency, or from a private lender with a government program underwriting it or providing insurance to protect the lender from default. Either way, they usually have lower interest rates, and easier approval standards than private lenders will offer. Many of these have specific requirements, as the government intends them only for particular situations or groups (e.g., housing support for Indian veterans). You need to check whether your situation qualifies under the requirements of a particular program. If you fit within the parameters for one of these government lending programs, you might be able to achieve the dream of starting a business, buying a home, paying for college, or much more.
The federal government offers loans for students. Some of these programs will lend you money for college, while some will help reduce student debt in exchange for service in specific fields after graduation.
These are the general student lending programs.
These unsubsidized loans cater either to the students’ parents or students themselves, covering the student’s tuition and boarding costs minus other financial aid. The interest rates are variable but always less than 9%.