How Do You Learn About US Government Student Loans?
• Stafford Loans: Stafford loans are low-interest loans from the federal government to pay for college expenses. The loans do not have to be repaid until six months after a student has either graduated, withdrawn from school or dropped below full-time enrollment. Students who demonstrate a significant financial need may be eligible for subsidized Stafford loans, in which loan interest is paid by the government until the repayment period begins. Other Stafford loans are unsubsidized, which means the loan recipients pay all accrued interest. Stafford loans are available through the Federal Direct Student Loan Program or from private lenders through the Federal Family Education Loan Program. • Perkins Loans: Perkins loans come with low fixed interest rates of 5 percent, making them one of the best need-based student loans available. Students must begin repaying Perkins loans 10 months after graduating, withdrawing from school or dropping below half-time enrollment status. These loans are
