Department of Education offers eligible students at participating schools Direct Subsidized Loans and Direct Unsubsidized Loans. If you choose not to pay the interest that accrues during your grace period, the interest will be added to your Program.
Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. (Some people refer to these loans as Stafford Loans or Direct Stafford Loans.) What’s the difference between Direct Subsidized Loans and Direct Unsubsidized Loans? Other than interest, is there a charge for this loan? Generally, you must also be enrolled in a program that leads to a degree or certificate awarded by the school.With a debt consolidation loan, a lender issues a single personal loan that you use to pay off other debts, such as balances on high-interest credit cards.You’ll pay fixed, monthly installments to the lender for a set time period, typically two to five years.Your credit scores can take a hit if you use all or most of the available credit on your cards.A personal loan balance is reported as installment debt, which is treated differently in credit scoring formulas than revolving debt such as credit cards.