A few days ago
Need info on college loans.?
What advice can you people give on college loans? What is the difference between subsidized and unsubsidized stafford loans? Can someone break this down for me? Thanks!
Top 1 Answers
A few days ago
Favorite Answer
College loans are very important to get if you exhibit financial need. If you filled out the FAFSA and are determined to receive financial aid, you should always try for a Federal Perkins Loan first. These have low interest rates and the government will help you pay it back as long as you are in school.
Subsidized Stafford Loans mean the government will also help you pay these back. Unsubsidized means that they won’t. Also, anyone can get an Unsubsidized Stafford Loan regardless of financial need.
You can also choose to get a Private Loan if you can’t get financial aid, but this is your last option. Private lenders have high interest rates, and you usually need a cosigner with good credit to help you out.
You can go to my Squidoo page I created on student loans here to learn more:
http://www.squidoo.com/nogroansaboutstudentloans/
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A few days ago
I would recommend a subsidized loan as the government pays the interest while you are in school and 6 months after you graduate. An unsubsidized loan, you pay the interest while you are in school. Hope this helps.
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A few days ago
Subsidized Stafford loans are need-based, and the government pays the interest on these loans while you are in school, during a six-month grace period immediately preceding repayment, and during authorized deferment.
Unsubsidized Stafford loans are not need-based, and you are responsible for all of the interest that accrues on the loan, including while you are in school.
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A few days ago
Subsidized means you can possibly push back your payments if you get in a debt. You can always consolidate to subsidized later.
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