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Federal student loan interest rates are fixed for the life of the loan; however, the rates for new loans will change annually, based on the current market. The interest rates for the 2013–2014 academic year are as follows: 3.86% for undergraduate Stafford Loans (both subsidized and unsubsidized) 5.41% for graduate Stafford Loans [6]
Direct Unsubsidized: Unlike Subsidized loans, these federal loans do not require students to demonstrate financial need and they are responsible for paying interest on the loan during all periods. If the student chooses not to pay the interest while in school, the interest will accumulate and be added to the principal.
Interest rate under the new law does not extend to loans disbursed after June 30, 2012. The rate for these new loans will revert to 6.8%. The law did not affect new unsubsidized Stafford loans. The rate remains 6.8%; PLUS loans made beginning July 1, 2006: 8.5% in FFEL Program; 7.9% in DL Program.
When you take out federal student loans to pay for school, you may be considering subsidized versus unsubsidized loans. Subsidized vs. Unsubsidized Loans: Which Is Better for College Borrowing ...
One charges interest while you attend school, while the other does not. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to ...
As of 2022, over half of all college students have taken on student loans to pay their tuition. Future students will likely need loans as well and should understand their options.
Unsubsidized loans are also guaranteed, but interest accrues during study. [76] Nearly all students are eligible for these loans regardless of financial need. [77] Those who borrow $10,000 during college owe $10,000 plus interest upon graduation. Accrued interest is added to the loan amount, and the borrower makes payments on the total.
Direct Unsubsidized Loan. $5,500 to $20,500 per year, depending on year in school and dependency status. Undergraduate and graduate students. Direct PLUS Loan.
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