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How often should I apply for a student loan?

How often does interest accumulate on an unsubsidized Stafford student loan from the government?

  • The interest rate on an unsubsidized Stafford student loan is 6.8%. How often does interest acculumate on such a loan? For example, if my loan is $5000, how do I calculate when and how much interest is capitalized onto the loan. Thank you for your help.

  • Answer:

    The interest on your student loan is calculated by capitalizing the interest rate (6.8%) times the number of times you ask this same question over and over in a single week times the number of people who really don't know the answer... It's monthly dude.

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forever until you pay it off. they are worse then loan sharks!!!

RomanceNdreams

Talk to your financial aid advisor at your university or college and they can give you the right numbers whether it is is monthly or bi-annually.

Tafler

Student loans are APR, which is yearly. Pay it off early and pay less interest, just like a car loan. I paid mine off with my military bonus.

kaliroadrager

it's yearly, i think. Mine is deffered right now, so I cant remember. Muliply .068 times 5,000 i think.

parrothead

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