<p>My fafsa offered me various loan options. How can I know which ones are the most beneficial?</p>
<p>There’s really a lot to know about student loans… you might want to read here before taking out any of them: [FinAid</a> | Student Loans](<a href=“Your Guide for College Financial Aid - Finaid”>Loans - Finaid)</p>
<p>In any case, I’m not sure what you mean by “beneficial” - it’s more like you’re choosing the least bad of the options. Generally, you want to see what combination of loans gets you the money you need at the lowest rate and total cost.</p>
<p>I think good first questions to ask would be along these lines:
- What is the rate on the loan?
- Taking that rate into account - and the interest that accrues while you’re in school and repaying the loan - how much will it cost for you to repay the loan?
- What will the monthly payments be on the loan once you’ve graduated (or otherwise left school)? How does that compare to how much you expect to be making?
- Who can take out the loan - you or your parents?
- When are you/your parents expected to start making payments on the loan?</p>
<p>You’re gonna want to take the government subsidized loans out if you need loan money because they’re the cheapest (very cheap).</p>
<p>they aren’t “very” cheap. subsidized loans are ideal because the government pays the interest. unsubsidized loans are still okay because the interest is like 6% which is insanely low.</p>
<p>Well yeah. Everything besides subsidized sucks and is not cheap making subsidized nice and cheap.</p>