<p>hi i have a question</p>
<p>i borrowed both subsidized and unsubsidized stafford loans</p>
<p>its about 2500 and i have money in my bank now i would like to repay back</p>
<p>i heard theres no penalty in paying early</p>
<p>if my fafsa is still eligible for student loans, do i still get them this year</p>
<p>after paying back my earlier loans?</p>
<p>True and yes, you still get them if you still qualify. However, before you pay back any subsidized loans make sure you’re not going to replace with new unsubsidized ones!</p>
<p>I wouldn’t pay back the subsidized loans. They are interest free until you graduate plus a 6 month grace period. But there should be no penalty for early repayment.</p>
<p>My son paid back about 1/2 to 3/4 of his earlier freshman loan. There are limits to what you can get yearly, but they aren’t effected by what you took out or paid back the year before. I pay the interest on his unsubsidized until he graduates and he has put some extra income on his loan principal to bring it down a bit. Over a few years, just a little bit helps. Sallie Mae made it easy with online payments, you can add what you want to whatever loan you want to pay and it shows you what went where.
I have a parent loan that isn’t online and it’s frustrating to hope they apply it correctly and have to keep much more meticulous records. The rate was very attractive though. (NJClass)</p>
<p>Janice33 </p>
<p>If you feel more comfortable paying off some of your loans in the here and now, then just do it. I had to take out a bit to pay for on campus housing for the first two semesters of my freshman year and I paid that off as soon as I could just so I could knock it out of the way. </p>
<p>Go with what you feel comfortable doing. No one will mind you if you try and pay things off early. It is being proactive is all it is.</p>