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The biggest difference between these loans is that you have to pay the interest on an unsubsidized loan, while the government pays the interest on a subsidized loan while you’re in school, for ...
Financial aid is available from federal and state governments, educational institutions, and private organizations. It can be awarded through grants, loans, work-study, and scholarships. To apply for federal financial aid, students must first complete the Free Application for Federal Student Aid .
Scholarships and grants do not need to be repaid. Loans, on the other hand, must be repaid and with interest. Also, the terms and conditions for federal student loans are different from private loans.
The overwhelming majority of student loans are federal loans. Federal loans can be "subsidized" or "unsubsidized." Interest does not accrue on subsidized loans while the students are in school. Student loans may be offered as part of a total financial aid package that may also include grants, scholarships, and/or work study opportunities ...
Scholarships and prizes are generally awarded for good performance in the study preceding course entrance in which the student achieves grades above the standard entry. These funders are usually education authorities, universities, companies and private trusts.
Federal student loans. Private student loans. Interest rates. 5.50% to 8.05% for loans disbursed before July 1, 2024. 6.53% to 9.08% fixed for loans disbursed after July 1, 2024