Loans, which ones to take?

rafaltrus
Wed, 05 May 2010 00:17:00 +0000

I am very glad to be able to answer your call. Since I’ve been in the Upward Bound College Prep Program, I know a little bit about these loans.

Federal Perkins Loan, Fed Direct Loan Subsidized and Fed Direct Loan Unsubsidized are the best loans you can get. Not only are they with low interest rates, but you start paying them after 6 months after graduation or dropping school.

Subsidized loan’s interest are paid by out government for your four years of college, whereas unsubsidized’s interests are to be paid by you but you can choose to either start paying them right away or delay till that six-month period.

I’m sure that you pay the perkins loan after your graduation but I’m not sure about interests, though.

Fed Direct Parent PLUS Loan, however, is not always a fine loan to sing up for. It is a loan for your parents therefore they are responsible for paying it back. A time ago, the loan was supposed to be paid back starting in October but it is possible now to differ payments until your graduation.

I have gotten similar award letter and since my parents wouldn’t be able to afford 9k in loans for their account, I will have a private loan but it’s a long story

I encourage to sign up for these three and talk with parents about the fourth one.