Federal Subsidized Student Loan A Federal Subsidized Student Loan is a low-interest loan authorized by the federal government to help pay for a student's college costs. Graduate students are eligible for up to $10,000 per an award period. The interest rate 6.80% is established by the federal government and may vary from year to year. The federal government pays the interest due the lender while the student is enrolled at least half -time in college and until repayment of the loan that begins six months after the student withdraws or graduates from college. Graduate/Professional students may not borrow more than a total of $65,500 for all their graduate and undergraduate studies. Federal Unsubsidized Student Loan Program The Federal Unsubsidized Student Loan Program allows a graduate student to borrow up to $8,500 per award period. The terms for an unsubsidized loan are the same as for a subsidized loan except for the interest payment: the government does not pay the interest of 6.80% on unsubsidized loans. Students must pay all the interest that accrues on this loan during the time they are enrolled in school, during the grace period, and during periods of authorized deferment and forbearance. Graduate/Professional students may not borrow more than a total of $73,000 for all their graduate and undergraduate studies.
|
