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Student Loan

Broken Lizard
edited May 2008 in General
alrighty, so how does the loan work again.

Interest starts when I'm done school? So say I finish this semester, interest would start August whatever the day is?

What is the grace period thing? Interest collects, but I don't have to make any payments for 6 months?

Comments

  • randomuser
    edited May 2008
    thats correct, you dont have to make any payments for 6 months but the interest is still building as far as i knew, unless you return to school, or apply for interest free status
  • toast
    edited May 2008
    whats the percentage of interest? I heard it's low, but what is it?
  • randomuser
    edited May 2008
    depends what you agree to pay when you consolidate...when interest rates are low it'll help you if you agree to a floating rate, unless you sign a fixed interest rate then its dif
  • Makall
    edited May 2008
    It's 10% per year.

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