THIS IS A BLOG FOR MR. KELLY'S MATH CLASS
Pre Calc
Federal/Government: has typically lower fixed interest rates and income-based repayment plans, you don't have to pay for them until you're out of school, don't always need a credit check to get these, interest can be tax deductible, sometimes possible to postpone payments.
Subsidized - you don't gain interest while you're in school (the government pays for it).. unless there's a forbearance CURRENT INTEREST RATE: 4.66% (undergrad) Unsubsidized - gains interest while you're in school CURRENT INTEREST RATE: 4.66% (undergrad) Private/Bank: more expensive, higher interest rates that can change, payment isn't based on income, normally have to pay while you're in school, normally need a credit check first CURRENT AVERAGE INTEREST RATE: 10.52%
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