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/Home//Federal Loan Programs Not Need Based
Unsubsidized Stafford Loans aren't based on financial need and can be used to help pay the family share of costs. You're responsible for paying interest on the loan while in school. You may choose to capitalize the interest. The advantage of doing this is that no interest payments are required. The disadvantage is that the interest is added to the loan, meaning that you will repay more money to the lender.
Grad PLUS loans are student loans for graduate students sponsored by the federal government that are unrelated to need. Generally, students can borrow up to the total cost of education, minus any aid received. The advantage of this loan is that it allows for greater borrowing capacity. However, students should consider lower-interest loans, such as the Subsidized Stafford or Unsubsidized loans prior to taking out a Grad PLUS loan.
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Change in US loan process will
