Loan Signature Student

Posted onNovember 28, 2011 - 2:34 pm by Admin | 0 Comments

There are several methods students and parents can use to help pay for college including scholarships, grants, work-study, and student loans. Student loans are one of the most popular methods used to help pay for college, but sorting out the different types and how they are different can be confusing. Some types of student loans include Stafford loans, Perkins loans, and Plus loans.

Stafford Loans

Stafford loans can be either subsidized or unsubsidized. The basic difference is the government will pay the interest that accrues while the student is in school with a subsidized loan. The interest on unsubsidized loans will continue to accrue until the loan balance is paid. Depending on the student loan, the money is borrowed either from a bank or credit union, or from the Department of Education. The interest rate for Stafford loans varies from year to year, but is always set low compared with the general market.


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