Hi, my name is 17 years old. My goal is to attend college. I am working hard to graduate ahead of schedule. I have researched local colleges. To be completely honest, I have no idea how the finance side of things operates. How long does it take to pay back student loans once you receive them? Generally, when are you expected to pay them? such as during your time in college or after you graduate? What does unsubsidized mean in an FAFSA that I completed?
Do interest rates apply to all loans?
I know nothing about private student loans other than what I have read online that it is preferable to avoid them.
Student loans assist with college expenses such as tuition and living costs. They are either federal (lower rates, flexible terms) or private (higher rates, credit check required). Federal loans require a FAFSA application. Funds go directly to schools; repayment begins after graduation, factoring in interest and fees.
Your school ought to provide you a financial aid packet that includes information about grants and scholarships. You are eligible for a 5,500 loan, so if the entire sum isn’t covered, you can borrow a maximum of 5,500. Additionally, your institution might give returning students access to more grants and scholarships. My first year of education cost me $10,000 out of pocket, but each subsequent semester has been completely paid for plus additional funds.