College can be a big investment, and no matter where you are in your college education, you may find a large gap between your desire to pursue a career and the money you have available to actually pay for it. Did you know that two thirds of all college students resort to undergraduate student loans in order to finish their degree?
If you have to take out a loan, the easiest and cheapest loans to apply for are the federal Stafford loans. There are two types of Stafford loans for undergraduates, the subsidized and the unsubsidized. You have to prove you have a financial need in order to receive the subsidized loan, while that isn't necessary on the unsubsidized loan.
Are you aware that you have to have finished high school or taken your GED test in order to apply for a subsidized Stafford loan? They, also, require you to be a citizen of the United States or at least have your permanent resident papers. Before they process your application, they will check to see if you have any outstanding payments on other federal loans you may have borrowed. If all of your payments have been made, they will continue the application process.
Did you know that no payments are required, and no interest is accrued on the loan while you are in school? These are the two main benefits of a subsidized Stafford loan. Two other advantages are low interest and no required credit check.
There are three important differences between the subsidized and unsubsidized Stafford loans. The unsubsidized loans are not based on need. The moment the loan is approved and the money is dispersed to your school, the loan company begins to charge interest, although, you aren't obligated to make any payments until six months after you finish your education. The fixed interest rates are slightly higher for this type of loan.
Did you know that you can apply for $2, 000 more with an unsubsidized Stafford loan than you can with a subsidized one? Since interest accrues every month on the unsubsidized loan while you are still in school, it will be necessary to choose between these two options. Either pay off the interest you are charged every month while you are going to college, or have it added to the loan principle when you begin to repay it. The disadvantage to the second option is that you will pay more in interest.
One of the fastest ways to receive financial help in college is to apply for subsidized or unsubsidized Stafford loans. Look at the requirements for each of these loans, consider your financial condition and then choose the type of undergraduate student loans that will meet your financial needs in the best way. - 29866
If you have to take out a loan, the easiest and cheapest loans to apply for are the federal Stafford loans. There are two types of Stafford loans for undergraduates, the subsidized and the unsubsidized. You have to prove you have a financial need in order to receive the subsidized loan, while that isn't necessary on the unsubsidized loan.
Are you aware that you have to have finished high school or taken your GED test in order to apply for a subsidized Stafford loan? They, also, require you to be a citizen of the United States or at least have your permanent resident papers. Before they process your application, they will check to see if you have any outstanding payments on other federal loans you may have borrowed. If all of your payments have been made, they will continue the application process.
Did you know that no payments are required, and no interest is accrued on the loan while you are in school? These are the two main benefits of a subsidized Stafford loan. Two other advantages are low interest and no required credit check.
There are three important differences between the subsidized and unsubsidized Stafford loans. The unsubsidized loans are not based on need. The moment the loan is approved and the money is dispersed to your school, the loan company begins to charge interest, although, you aren't obligated to make any payments until six months after you finish your education. The fixed interest rates are slightly higher for this type of loan.
Did you know that you can apply for $2, 000 more with an unsubsidized Stafford loan than you can with a subsidized one? Since interest accrues every month on the unsubsidized loan while you are still in school, it will be necessary to choose between these two options. Either pay off the interest you are charged every month while you are going to college, or have it added to the loan principle when you begin to repay it. The disadvantage to the second option is that you will pay more in interest.
One of the fastest ways to receive financial help in college is to apply for subsidized or unsubsidized Stafford loans. Look at the requirements for each of these loans, consider your financial condition and then choose the type of undergraduate student loans that will meet your financial needs in the best way. - 29866
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