Loan Interest Forum

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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holliebell

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Loan Interest

Post by holliebell » Mon May 23, 2011 4:33 pm

For the Stafford Unsubsidized and GradPlus I know that interest accrues while in school. How does that work? If you take out $12,000 total for one year of unsubsidized loans at 6.8%, does that accrue every month? I.e.: $816/month for a year, making a total of $9792 in interest in 12 months. That doesn't sound right. Is it 6.8% per year?
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fatduck

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Re: Loan Interest

Post by fatduck » Mon May 23, 2011 4:35 pm

it's a 6.8% annual rate, and it's simple interest while you're in school.
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