Government Subsidized Loans
Direct subsidized loans- students with financial need. Federal government pays the interest on subsidized loan while borrower is in college at least half the time and at least six months after enrollment stops. At the end of the six month period, borrower becomes responsible of the loan interest and repayment.
Direct unsubsidized loans- student borrower with no financial need is eligible of this loan. interest is not paid by government and is the responsibility of the student at all times.
Direct Subsidized:
Undergraduate- 3.86% Graduate- N/A
Direct Unsubsidized:
Undergraduate- 3.86% Graduate- 5.41%
Discover: Interest Rate, 5.49%
5000(1+0.0549)4 $5274.50^4
$274.50 per year
$1098 per 4 years
$439.54 per month
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