There will be so many needs for you after you have done studying in high school. In planning your brighter future, you will need to have your education prepared well. You can choose to have an education in a certain college you want to get your dream. In this case, some students are having a problem in finding a financial source for you and your dream to be come true. You can choose to have your financial source by choosing some loans especially designed for student to make your dream in education for college come true. The student loans are usually made especially with low interest and many advantages for the appliers. There are so many student loans available. But, you have to choose the best one for guaranteeing your future and your loans to be easier for you, especially in repayment. Stafford loan can be your choice for this.
Stafford loan is one of the most popular loans based on government loans for students in U.S. There are so many advantages for you when you are having your education in college are paid by the loans for you. You can get this kind of loans when you are awarded as the Free Application for Federal Student Aid. Usually, this kind of loan will give you two choices for having your education paid by the loans you have. The first version of this loan is the subsidized loan, while the second loan is the unsubsidized loan. The loan is awarded as your eligibility. There are some differences for you when you choose one of those loans for your education in college.
The first loan of Stafford loan, the subsidized one is a kind of loan which will give you a certain loan with 4.66% interest rate. You will also get your interest paid by the government for your educational needs. Those interests will be paid by the government while you are still studying in your school. When you are having a subsidized loan for your education, you will get a service of loan for borrowing up to $8,500. That amount is based on your eligibility for your loan. The second version of this loan is the unsubsidized one. This kind of loan will give you the same rate of interest just like the subsidized one it is in rate of 4.66%. The difference here is about the payment of interest you have. You can get the interest paid by yourself and it will be increased every year. Then, you will also find that you can borrow up to $12,000, based on your eligibility.
You will also find that this kind of loan will require you some things. The most important thing is that you have to be a permanent U.S resident and have a nationality of U.S you have to also fulfil some things for applying your loan. In finding loans for students, like Stafford loan, there will be some requirements for you. You have to be sure mostly for the repayment plan. Choose repayment plan that l not bother you in the future, since your repayment should be paid.