<p>I took out unsubsidized loans, thinking that interest would not accrue, however it has started already. My parents paid off $2000 of my $5500 loan, so i owe about $3500 right now. Should i keep making low payments maybe around $200 per month on my loan or just hold it off for now? Should I take out SUBSIDIZED next semester?!
Thanks in advance</p>
<p>Any time you can get a subsidized loan instead of a subsidized loan, it’s much better for you. You need to talk with your parents and figure out a plan to cover all 4 years of your U. </p>
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Subsidized loans is part of your financial aid</p>
<p>Were you offered subsidized loans? You can only get subsidized loans if your school determines you have unmet need based on your EFC. If they did not offer sub loans, you ars likely not eligible.</p>
<p>Subsidized means the interest is subsidized by the federal government while you are in school. Unsubsidized means the interest is not subsidized while you are in school. Subsidized is always better, but not all students will be offered subsidized, as they are need-based.</p>
<p>If you were offered subsidized, turned those down, and accepted only your unsubsidized loans, please make an appointment with your financial aid office as soon as possible. They may be able to switch your loans. </p>
<p>I think kelsmom meant to say to turn down the unsubsidized loans and accept the subsidized loans…if subsidized loans were offered.</p>
<p>Sillyrabbit - reread Kelsmom’s post - she is saying if the OP was offered sub loans and turned them down mistakenly, he/she should talk to their FA dept to see if the existing loans can be switched </p>
<p>My apologies!! I did read kelsmom’s post incorrectly!<br>
I need another cup of coffee…</p>
<p>Easily done - know what you mean about the coffee. I need about a gallon right now!</p>
<p>It’s a confusing statement, so I can see the confusion! But yes, I have seen students decline sub and accept unsub. They wanted the lower amount, so took that without understanding the difference between the loans. </p>