stafford and perkins loan


<p>I have a federal subsidized stafford loan, so that means that the gov't would help pay for my interest WHILE I am in school, BUT I would still have to make monthly payments on loan. Is that right?
Oh, and which lender? I'm told there isn't much of a difference, but who did you guys pick?</p>

<p>As for the Perkins loan, there is no interest, (or the gov't pays for it), and I WOULDN"T have to make monthly payments??</p>


<p>Nope. Both of them are more or less the same with the key difference being that one of them is done through a third party lender.</p>

<p>The government pays the interests while you're in school full time + 6 or 9 months after you leave. After that, you start making payments towards your debt, which will include both principle and interests.</p>

<p>Check out the FAO site, they should have some PDFs that explain the benefits of each paricular lender, which has to do with the repayment process (such as lower interest or reduce payments if you are in good standing).</p>

<p>So the final line is that I don't pay any of my principle loan until AFTER i leave college?</p>

<p>thanks ucapplicant!</p>

<p>didn't you take the the loans test?? after taking it, most of your worries about when to pay and how to pay should be answered.</p>

<p>Yep, pay nothing until you stop being a full-time student. The Debt Management session should give you more info and is mandatory anyways if you want to take out loans! Be sure to do it during Orientation.</p>