The biggest advantage of taking out subsidized loans is that the Department of Education will pay your interest charges for you while you're in school and during your grace period.
While in-school student loan interest assistance is a huge plus for subsidized loans, not every student will qualify for them. Unlike unsubsidized loans, you must demonstrate a financial need to receive any subsidized loan distributions. And graduate and professional students are not eligible for a subsidized loan whatsoever, regardless of their financial situation.
With both subsidized and unsubsidized loans, the Department of Education charges a 1.059% loan disbursement fee. This is subtracted from your loan payout. So for a $3,500 subsidized loan, the loan fee would reduce the actual money you receive by about $37 to $3,463. One of the major disadvantages of subsidized loans is that they have strict annual and aggregate borrowing limits. Here is how much you can borrow in Direct Subsidized loans during each year of your education.
So even if your financial need qualifies you for subsidized loan funding, there's a strong chance that you'll need to take out some unsubsidized loans as well.One of the big advantages of both subsidized and unsubsidized federal student loans is that you don't have to make any payments while you're enrolled at least half-time in a qualifying education program.
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