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How is interest rate worked out for student loans?

Timothy Norman

in Student Loans

1 answer

1 answer

Daniel King on October 23, 2018

Depends on a couple of things as that loan (federal, private, subsidized, unsubsidized) and what your financial situation is, esp. credit report and score. Federal loans to offer the lowest rate. subsidized federal loans (stafford) have their interest paid by the Gob. unsubsidized federal loans, but the interest you pay is very low (6-7%) and you do not have to make any payments until 1 year after graduating. The private loans are much higher interest rates and you must pay the interest regularly while you are in school. The private loans are especially dependent on your credit, so if your rockin' 750, you should be fine...450, well, consider the community of the way cheaper!

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