1. Direct subsidized loans- 4 to 6 years 3.86% to 4.66% - Undergraduate
Direct unsubsidized loans - 2 to 3 years 5.41% to 6.21% - Undergraduate
Plus loans - 2 to 3 years 4.288% to 4.292% - Parents and Graduate or Professional Students
2. Outstanding principal balance
x number of days since last payment
x interest rate factor
= interest amount
Interest is compounded annually.
Interest is accumulated after graduation.
Direct unsubsidized loans - 2 to 3 years 5.41% to 6.21% - Undergraduate
Plus loans - 2 to 3 years 4.288% to 4.292% - Parents and Graduate or Professional Students
2. Outstanding principal balance
x number of days since last payment
x interest rate factor
= interest amount
Interest is compounded annually.
Interest is accumulated after graduation.
An interest rate is the rate at which interest is paid by a borrower (debtor) for the use of money that they borrow from a lender(creditor). Specifically, the interest rate (I/m) is a percentage of principal (P) paid a certain number of times (m) per period (usually quoted per year).
It depends on incomes, credit and financial needs.
It depends on incomes, credit and financial needs.