<p>Do you always have to pay interest on student loans?
I am completely ignorant about the financial side of college--any information you can give me would be appreciated....</p>
<p>Yes, you always have to pay interest on student loans. Some federal loans (available to US citizens and I believe resident aliens) are subsidized, which means that the government pays the interest for you while you are in school. Others are unsubsidized, which means that the interest starts from the day you get the funds, even though you don't have to start making payments while you're in school. And for both types of loans, you have to start paying the interest and principal 6 months after you graduate.</p>
<p>Private loans have interest as well, with varying deferral and repayment plans. You must check those loans very carefully before signing anything.</p>
<p>Is there anyway to go through college without paying loans (assuming little qualification for need-based aid at a solely need-based aid giving school)?</p>
<p>(I'm already assuming the answer to this is no...)</p>
<p>Sure. Pay your tuition and other costs out of savings, sales of assets, and current income. Many people can do that for state schools or some low-cost private schools. Very few people can do that, although there are always some who can, at schools that cost $50,000 per year or more.</p>
<p>Well I'm pretty sure my family can't do that.
But thanks for responding.</p>