ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Unsubsidized Federal Student Loan
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Private Student Loan
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Subsidized Federal Student Loan
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Institutional Student Loan
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Detailed explanation-1: -For a PLUS loan, you can borrow only up to the cost of attendance – which is determined by your school – minus all other financial aid received. There are some noteworthy differences between the Grad PLUS and Parent PLUS loans.
Detailed explanation-2: -Subsidized Loans do not accrue interest while you are in school at least half-time or during deferment periods. Unsubsidized Loans are loans for both undergraduate and graduate students that are not based on financial need.
Detailed explanation-3: -Navient is no longer servicing federal loans owned by the U.S. Department of Education. These loans were transferred to a new servicer, Aidvantage, in January 2022.
Detailed explanation-4: -While private loan borrowers can’t count on sweeping student loan forgiveness to erase their debt, there are steps they can take to make their loans more manageable.