Top Loans For Student
Learn more on Top Loans for student.
Almost all of the students are obtaining the student loans to funding for their education, the loans preferable by most students are the student loans and aids from federal government. There are several loans that most common applied by students.
1) The Perkins loans - the interest of the loan is only five percent, not all students are eligible for the loan. Only the one with low income and necessary will get it. Student might get $8,000 a year and up to $40,000 for a life time.
2) The 2nd cheapest loan from federal government is the Subsidized Stafford Loan. The loan will be awarded to those in need, the interest capped in 6.8 percent and with fees not more than 1 percent. The annual limit of the loan is $8,500. As the name subsidized, there will be no interest charge during school time.
3) Follow by the Unsubsidized Stafford Loan - the loan interest is same as subsidized loan 6.8 percent annually and with fee charge not more than 1 percent. The word "Unsubsidized" means there are interest charges for borrower even during school time.
4) The Grad Plus is the additional loan, graduate student who need more fund after exceeding their Stafford and Perkins loans can apply for this Grad Plus. Many student get the loan for living expenses, transportation, course materials and etc. The APR of the loan is around 8.8 percent.
One of the main reason federal student loan become most common is the interest of the loan still considered low as compare to private loan. Regardless of bad credit of student, as long as student never defaulting in any student loan payment, they will probably get federal student loans.
For more information about other loans, please check out Various Loans Guide instead of Top Loans for Student
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