This assignment is asking me to research government subsidized loans, non-subsidized loans, and bank loans. What are the current interest rates? These all depend on the current interest rates and your income.
Government subsidized loan - in this loan the government will pay off your interest while you are still in school but this means that you will be responsible for paying the interest after you have graduated from school. This loan has a rate at about 5%. Non-subsidized loan - The interest rate is lower than the federal subsidized loan. It's non-subsidized loan collects interest while you are in school. Everyone applies for a non-subsidized loan, instead of the subsidized loan (where not everyone applies). The college you go to will cap how much money you can borrow. The rate is about 4.25%. Private Bank Loan - This loan is one of the alternatives to the federal subsidized loan. This type of loan gains interest while you are still in college, the rate for this loan is noticeably higher at about 7.5%.
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