Government subsidized loans: A loan on which the government pays the interest while the student is in school and then the interest becomes the responsibility of the student (after graduation). 4.66% interest
Government Unsubsidized loans: A loan on which the student xis required to pay the interest while still enrolled in school. 4.66% interest. ~Private student loans: A loan rom the bank on which a student is required to pay interest while in school. 5.99-9.99% interest.
Sample Problem: Say you take 5,000 dollars out each year for four years. A total of 20,000 dollars. Via a government subsidized loan. To pay the loan off in fifteen years the interest due will/would be 19,604 dollars. Therefore, after graduation the amount that you would owe on your student loans would be 39,604 dollars. Paid over 15 years it's about 220 dollars a month.