Student Loans Argentina
Stafford Loans are either subsidized, which means that the government pays the interest on them while the student attends school, or they are unsubsidized. Subsidized loans have advantages because the student does not have to worry about payments until six months after graduation, when a good job is more likely to be available. Eligibility for subsidized loans depends on income level and school costs.
For students with high financial need, the government offers Perkins Loans as a supplement to Stafford Loans. These are subsidized loans so they do not have to be repaid until nine months after graduation, as long as the student is enrolled for at least half of the school term.
The interest on PLUS Loans is generally higher, currently around 8%. They are also not subsidized, so they begin accruing interest right at the time the funds are disbursed. The borrower can wait until after graduation to begin repayment, but will have to pay the accrued interest as well. Under some circumstances, however, such as an extreme financial situation due to disability, loans can be deferred, and during that time interest will not be added.
What is a student loan
Student loans united states
Grants and scholarships give you money to study and you don’t have to pay it back. So they should be your first choice to pay for your education. The simplest way to apply for a grant is to complete the Free Application for Federal Student Aid (FAFSA®). To find other grant and scholarship opportunities, you can also explore these other sources:
Federal work-study jobs are another way to help pay for college. This type of employment is a need-based grant that requires you to work part-time while in school. To qualify for the work-study program, you must complete the FASFA® form and meet the need-based criteria. You will be paid only for the hours you work. For more information, talk to your school’s financial aid office.
Private loans, sometimes called “alternative loans,” are offered by private lenders, such as banks and credit unions. They are not backed by the federal government and do not include the benefits and protections offered by federal student loans. These loans may also require a cosigner (a guarantor for another person who will also be responsible for repaying the loan) and a credit check (a review of your credit history).
A college education today is more important than ever before, but paying for it is a major challenge for many students and their families. Private loans can help pay for college expenses that are not covered by federal loan programs and other financial aid. These loans help bridge the gap between your financial aid resources and college costs.
Use our aid calculator to see how much financial aid you can get from all available sources. Accept all (gift) grants, any scholarships offered, and borrow federal Direct Loans or Perkins Loans that are offered to you before taking out a private loan.
Private loans will typically have higher interest and costs than federal loans and the repayment terms are less attractive as well. In addition, private loans are based on your credit rating and financial solvency (not your financial need) and generally require a guarantor.