<p>Since there will be an interest charged, when will it start? Is the interest immediately after I agreed to the loan, or do they charge interest after the school year is over?</p>
<p>Interest begins to accrue once the funds have been sent to the school.</p>
<p>My kids' are through AES and they send interest bills quarterly, but I believe you have to indicate you want to pay the interest during school.</p>
<p>You'll get an interest statement/bill each quarter. You can pay the interest or you can just defer it until you start paying your loan. We are paying the interest...we are subsidizing our kids' loans.</p>
<p>Same here, I paid about 100.00 but it's better paid now, than added to loan over the years. I can do it online with Sallie Mae, so I can keep track of it instead of waiting for the papers to come. Also, "if" my son has to take out more than he figured on with loans the next 2 years, I might just pay this small one off myself and it's easier to just add a bit more monthly when I can online.</p>
<p>We paid online, monthly, with AES. We never let the interest accumulate or compound to the next month. If you pay extra be sure that you either call the servicing company ( AES) or read All of the fine print.</p>