How often does interest accumulate on an unsubsidized Stafford student loan from the government?
Oct 31, 2008 in
Financial Aid
Level T
The interest rate on an unsubsidized Stafford student loan is 6.8%. How often does interest acculumate on such a loan? For example, if my loan is $5000, how do I calculate when and how much interest is capitalized onto the loan. Thank you for your help.
The interest rate on an unsubsidized Stafford student loan is 6.8%. How often does interest acculumate on such a loan? For example, if my loan is $5000, how do I calculate when and how much interest is capitalized onto the loan. Thank you for your help.
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One comment
Emily S on November 4, 2008 at 4:54 am
every quater. they send you a letter every year with dates and estimated payments of the interest that accumultes with every semester. however if they offer you 3000 more and you only use 1500 the interest is less accordingly.
i personally just pay 100 every 6 month. i know it was more than needed before, but it might be what it is now, or more, but i checked my credit its all green:) so, as long as you make estimated payment every quater you will be ok.