This guide for student first-time borrowers presents the basic facts about subsidized Federal Direct Stafford/Ford Loans and Federal Direct Unsubsidized Stafford/Ford Loans. Components of the guide include: (1) a section providing such information as amounts that can be borrowed, interest rates, loan fees, the various repayment plans, and loan consolidation; (2) a section which explains eligibility for deferments; (3) a section which explains eligibility for forbearance, consequences of failing to repay the loan, and requirements while in school; and (4) a section on budgeting, including a budget planning worksheet, a quiz that reviews the guide's critical information, a loan history worksheet, a list of important things the borrower should know, a summary checklist of student rights and responsibilities, and definitions of common loan terms. (DB)