Government subsidised and unsubsidised are loans are different because subsidised loan's amounts are decided by the school the individual is attending and the U.S. Department of Education pays the interest until the individual graduates from the college they were attending. Unsubsidised loans have no requirements to demonstrate financial need and they are offered to graduate and undergraduate students. Interest rates are the same for both loans, undergrad students are 4.66% and grad students are 6.21%, while private bank loans are 5% interest. If I were to take out 5,000 dollars in subsidised loans for all four years of college, and paid it back every month, I would pay $262 per month paying a total of $31,538.
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AuthorMy name is Evelyn Bradley and I'm in pre calculus! Archives
April 2015
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