Unsubsidized Stafford Loan
The Unsubsidized Stafford Loan is part of the Direct Student Loan program, which is administered by the Department of Education.
This type of student aid is great for students looking for additional money for college.
The low interest rate and favorable repayment terms make this loan very attractive to undergraduate students obtaining their first degree.
In order to be eligible to receive the Unsubsidized Stafford Loan, you must complete the FAFSA or Free Application for Federal Student Aid.
This student aid application takes into account your families Adjustable Gross Income, total assets, and the number of family members that are in school in order to determine if you qualify for any type of federal financial aid.
The only drawback with the unsubsidized Stafford Loan is that you will start to accrue interest once you've received your Loan award.
This is different to the Subsidized Stafford Loan because the federal government will pay for all interest accrued while in school.
Once you've graduated, you must begin the repay your student loan, which is the case for both the Subsidized and Unsubsidized Loans.
All repayments should be sent to the Department of Education, who is the lender of your loan.
If you have multiple Direct Loans, which include the Stafford Loans, Parent Plus Loan, or Graduate Plus Loan then you have the option to consolidate all your loans into one.
By consolidating all you student loans, you have only one monthly payment instead of multiple payments.
The Unsubsidized Stafford Loan does offer many benefits from borrowing this type of loan compared to other private student loans.
The benefits include lower interest rates and more favorable repayment options.
This will save you more money over the long term, since more money will be used to pay your student loan principal down instead of the accruing interest.
Students that are attending college, have many options to choose from if they are in search of additional money for college.
It's best to research all your options to know what is available before making a decision.
By doing your work upfront, you will save time and money over the long-run.
This type of student aid is great for students looking for additional money for college.
The low interest rate and favorable repayment terms make this loan very attractive to undergraduate students obtaining their first degree.
In order to be eligible to receive the Unsubsidized Stafford Loan, you must complete the FAFSA or Free Application for Federal Student Aid.
This student aid application takes into account your families Adjustable Gross Income, total assets, and the number of family members that are in school in order to determine if you qualify for any type of federal financial aid.
The only drawback with the unsubsidized Stafford Loan is that you will start to accrue interest once you've received your Loan award.
This is different to the Subsidized Stafford Loan because the federal government will pay for all interest accrued while in school.
Once you've graduated, you must begin the repay your student loan, which is the case for both the Subsidized and Unsubsidized Loans.
All repayments should be sent to the Department of Education, who is the lender of your loan.
If you have multiple Direct Loans, which include the Stafford Loans, Parent Plus Loan, or Graduate Plus Loan then you have the option to consolidate all your loans into one.
By consolidating all you student loans, you have only one monthly payment instead of multiple payments.
The Unsubsidized Stafford Loan does offer many benefits from borrowing this type of loan compared to other private student loans.
The benefits include lower interest rates and more favorable repayment options.
This will save you more money over the long term, since more money will be used to pay your student loan principal down instead of the accruing interest.
Students that are attending college, have many options to choose from if they are in search of additional money for college.
It's best to research all your options to know what is available before making a decision.
By doing your work upfront, you will save time and money over the long-run.
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