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2 Comments Already

been there done that Said,
April 6th, 2014 @10:46 am  

a subsidized loan means the government will pay for the interest. unsubsidized means you have to pay for the insane interest of the loan. it’s up to you.

PETA Said,
April 6th, 2014 @11:36 am

Both loans are good loans. The interest rates are different and the govt will pay the interest on the subsidized loans while you are in school. You dont start paying these back until after usually 6 months you graduate, quit or fall below half time and then they set you up with payments. My daughter’s college award includes grants, subsidized, unsubsidized, parent and work study.

Only take out the amount you need because you will have to pay it back so you want to keep that way down.

You will not get to pick how to spend which kind. Grants and loans you get go into your college account. The college will pay themselves for the semester for tuition, fees, rooma and board if dorming and any left over will be refunded to you for books and other expenses by check, debit, deposit depending on how your college does it.

The average loans owed after 4 years is 25,000. The rule of thumb is dont borrow during your degree more than you will make your first year with your degree and less is best.

You can work whilein college but keep it below 6000 or it will affect your financial aid.

Also for the unsub loans you accept be absolutely positive to pay the interest that built up on that before the loan goes into repayment or you will end up paying way more for that loan (capitalization)

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