A non-need based loan on which the student is responsible for paying the interest that accrues on the loan from the date of disbursement until the loan is paid in full, regardless of enrollment or deferment status.
the Unsubsidized Stafford Loan is a non-need based loan program, so students with no financial need can even qualify for this aid program. Interest that accrues on Unsubsidized loans must be paid by the borrower, even while he/she is in school. The borrower may make periodic payments (monthly or quarterly, depending on the lender's policy) or allow the interest to accrue throughout enrollment and have the interest "capitalized" (added to the loan's principle balance). While capitalization eliminates having to make payments while in school but increases the total cost of a loan.
Low interest loan for students enrolled at least half-time in an eligible program. The borrower owes interest as soon as the loan is made.
Federal non-need-based loan. It is available to students who do not meet the federal need requirements for the Subsidized Federal Stafford Loan.
A low-cost, federally insured loan for independent students, graduate students and certain dependent undergraduate students. Unlike the Subsidized Stafford loan, the borrower is responsible for all interest from the date the loan is disbursed.
A non-need-based loan where the borrower is responsible for paying the interest accrued during in-school, grace and deferment periods, as well as during repayment.
See Stafford Student Loan (SSL) program.
A low interest student loan authorized by Title IV of the higher education Act on which the federal government does not pay the interest. The borrower is responsible for paying all interest accrued from the date the loan is disbursed. Offered by participating FFELP lenders and the federal government.
A student is responsible for paying the interest on an unsubsidized loan while attending school or while the loan is in deferment.
The type of Stafford loan that is not based on need. The borrower is charged interest from the date of disbursement until the debt is repaid in full.
Students who do not demonstrate financial need may obtain the loan on an unsubsidized basis. Unsubsidized Stafford loan start accumulating interest from the day the money is disbursed. The interest may be capitalized as long as the student is attending school at least half-time.
Students may obtain loans on an unsubsidized basis. Unsubsidized Stafford loan start accumulating interest from the day the money is disbursed. The interest may be capitalized as long as the student is attending school at least half-time. Payments of principal and interest begin once the six-month grace period expires.
