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Another federal option is a Direct PLUS Loan (often called a “Parent PLUS Loan”). This loan is granted to the parents of undergraduate students and has a similar application process as the FAFSA. Federal student loans can help you and your family pay for college, but they may not cover ...
The government pays off the interest on your loan: While you are in school For six months after you graduate During periods of deferment on the loan As of 2022, the interest rate on direct subsidized loans is 3.73% for undergraduates and 5.28% for graduate students. Federal Direct Unsubsidize...
If possible, it's a good idea to make interest-only payments to prevent your interest from adding to your principal loan amount. If you have a Direct Subsidized or Unsubsidized Loan, you will have a six-month grace period. If you have a Direct Plus loan, you will be required to ...
Grad PLUS loans and parent PLUS loans have the highest interest rate of any federal student loan at 6.28%. Private student loan interest rates vary based on a number of factors, including the loan amount and length as well as the borrower's creditworthiness. Interest rates on private student ...