College education leads to higher income, job security, and great opportunities in life. But, it may take until age 34 for you to fully pay for college.
Stafford Loans are among the most common, desirable, and low-cost loans at fixed 2.75% interest rates offered directly to students rather than to parents.
The Unsubsidized Loans are different as they are not need-based.
Still, you, not the government, are paying the interest cost, which accrues right away.
These loans are at a higher rate of 6.28%, designed to supplement other sources of funds the students could obtain. These amounts are subject to a 4% origination fee of the loan amount.