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College Answers is the easy way to get the answers and answer questions about anything college related. Whether you need easy to understand information about financial aid or tips on how to deal with weird roommates, you can get it here.
Get answers like:
Brandon:
When do I have to start paying off my FAFSA loans?
Margo:
You don’t have to pay a thing for 6 months after your graduation date. After that, however, you need to pay on them monthly unless you are approved for a waiver or reenter school.
For more info about various ways to pay for school visit:http://www.classesandcareers.net/2011/04/20/all-about-financial-aid/
Brandon:
Margo – thanks for the quick answer! Does it matter whether I have subsidized or unsubsidized loans?
Margo:
You’re so welcome!
Actually, you have to pay both subsidized and unsubsidized loans 6 months after you graduate (or leave school). The difference is that, with your UNsubsidized loan, you have been accruing interest all along, it just has not come due yet.
The interest on a subsidized loan does not begin until your graduation or termination of school date, so it is a much better deal if you can get this kind of loan. These loans are need-based and harder to come by.
