0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
When are you required to pay back a FAFSA loan?
Yes, you are required to pay back federal loans that your accept after filling out the FAFSA. This includes subsidized loans, unsubsidized loans, and PLUS loans.
What is are unsubsidized loans?
The difference between subsidized and unsubsidized student loans is the interest. On subsidized loans you don't have to pay the interest and it does not build up over the life of your loans.
Repayment of Federal Student Loans?
A majority of college students require some financial aid to attend their school and federal student loans are one option for funding an education. Federal student loans have a set interest rate and a grace period for repayment once the student drops below half-time in school. Students have the option of accepting subsidized or unsubsidized loans or both and this can impact repayment of the loan. Subsidized loans do not accrue interest during the time an individual is in school but have lower limits for borrowing than unsubsidized loans.
Unsubsidized Loans Accrue Interest?
The Federal Stafford Loan program offers both subsidized and unsubsidized loans for college students. The former does not accrue interest, meaning the student will only have to pay back the principal amount. These are need-based loans available to students from lower income families. Unsubsidized Stafford Loans are not based on financial need. These loans do accure interest over time, and the maximum anount that can be borrowed is $2,000 per year for dependent undergraduate students and $6,000 per year for independent underclassman students.
What types of loans accumulate interest?
Subsidized, Unsubsidized and PLUS
Are uncns loans federal student loans?
Yes. UNCNS stands for "Unsubsidized Consolidated." Since private or state loans not guaranteed by the federal government are ineligible to be consolidated, only federal loans can be labeled UNCNS.
When are you required to pay back a FAFSA loan?
Yes, you are required to pay back federal loans that your accept after filling out the FAFSA. This includes subsidized loans, unsubsidized loans, and PLUS loans.
What is are unsubsidized loans?
The difference between subsidized and unsubsidized student loans is the interest. On subsidized loans you don't have to pay the interest and it does not build up over the life of your loans.
What are the 4 types of financial aid available in regards to education?
There are different types of student loans available to college students for college: # Federal Subsidized Stafford Loans # Federal Unsubsidized Stafford Loans # Federal Perkins Loans # Federal PLUS Loans # Private/Alternative Student Loans Other sources of financial aid are: * Scholarships * Grants * Work-Study
Repayment of Federal Student Loans?
A majority of college students require some financial aid to attend their school and federal student loans are one option for funding an education. Federal student loans have a set interest rate and a grace period for repayment once the student drops below half-time in school. Students have the option of accepting subsidized or unsubsidized loans or both and this can impact repayment of the loan. Subsidized loans do not accrue interest during the time an individual is in school but have lower limits for borrowing than unsubsidized loans.
Unsubsidized Loans Accrue Interest?
The Federal Stafford Loan program offers both subsidized and unsubsidized loans for college students. The former does not accrue interest, meaning the student will only have to pay back the principal amount. These are need-based loans available to students from lower income families. Unsubsidized Stafford Loans are not based on financial need. These loans do accure interest over time, and the maximum anount that can be borrowed is $2,000 per year for dependent undergraduate students and $6,000 per year for independent underclassman students.
What are my options for financing graduate school at Auburn University?
Financial aid is available in the form of Federal Stafford Unsubsidized Loans. The loans are based on annual and aggregate loan limits and are not needs based.
What types of loans accumulate interest?
Subsidized, Unsubsidized and PLUS
How is interest rate worked out for student loans?
It depends on a few things like which loan you get (federal, private, subsidized, unsubsidized) and what your financial situation is, esp. credit report and score. Federal loans offer the lowest rate. subsidized federal loans (stafford) have their interest paid by the Gov't. unsubsidized federal loans do not, but the interest you pay is very low (6-7%) and you don't have to make any payments until 1 year after you graduate. Private loans have much higher interest rates and you must pay the interest regularly while you are in school. Private loans are especially dependent on your credit, so if your rockin' a 750, you should be ok...450, well, consider community college...its way cheaper!
What are fixed rate student loans?
A fixed rate loan, like the Federal Unsubsidized Stafford Loan, are loans whose interest rate stays the same during the entire duration of the loan and during the time of payment.
Where can I apply for federal grants for college?
You could search on www.studentloans.gov and apply for federal student aid or apply for subsidized or unsubsidized loans with low interest rates or you could question your financial aid officer on your institution.
What are unsubsidized loans and is there a credit check?
An unsubsidized loan is simply a student loan which make it possible for students to finance an education while attending a college or university. To obtain most loans, you must submit a credit check.
