<p>So I was offered a Perkins loan, and I'm also aware of subsidized Stafford loans I could apply for, but they're not necessary per say for me to pay for college. From what I've found, these loans carry some sort of interest rate (5% for Perkins), which do not compound until I am out of college. However, on the Perkins website it states that repayment is based on a 10 year schedule. Does this mean that I will be forced to pay the loan back over 10 years, taking on extra fees from the interest or is it possible for me to pay the entire loan off as soon as I get out of college, effectively making it a 0% interest loan?</p>
<p>Thanks.</p>