Jul
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Can anyone explain the differnces in the various loan programs, administered by the fed?
Financial Aid
bspain0 asked:
What are the significant differnces between the Perkins, Stafford and Ford loans?
Sphere: Related ContentWhat are the significant differnces between the Perkins, Stafford and Ford loans?
Do any of these dictate how much I can borrow, and what the money can be used for?
Tags: Borrow Money, Dictate, Ford, Loan Programs, Loans, Perkins
July 26th, 2008 at 9:12 pm
They all have a max that you can borrow per year and through a lifetime. A stafford subsidized loan is one that the government pays the interest while you’re in school. The stafford unsub loan, you have to pay interest or the interest accumulates while in school.
A Federal Perkins Loan is a low-interest (5 percent) loan for both undergraduate and graduate students with financial need. Your school is your lender. The loan is made with government funds with a share contributed by the school. You must repay this loan to your school.
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