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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.
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 ...
Federal loans are either subsidized (the government pays the interest) or unsubsidized. Federal student loans are subsidized for undergraduates only. Subsidized loans generally defer payments and interest until some period (usually six months) after the student has left school. [55] Some states have their own loan programs, as do some colleges ...
The Unsubsidized Stafford Loan and Grad PLUS loans are non-need-based loans available for both undergraduate and graduate students who do not qualify for need-based financial aid. [ 16 ] Even though these loans are not subsidized, interest rates are set by Congress, the programs are closely supervised, and they provide many protections that ...
The overwhelming majority of student loans are federal loans. Federal loans can be "subsidized" or "unsubsidized." Interest does not accrue on subsidized loans while the students are in school. Student loans may be offered as part of a total financial aid package that may also include grants, scholarships, and/or work study opportunities ...
One charges interest while you attend school, while the other does not.
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.
Need-based aid includes federal grants and Direct Subsidized Loans. For non-need-based aid, like Direct Unsubsidized Loans, your school takes your cost of attendance and subtracts any financial ...