ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -If you qualify for a subsidized loan, the government pays your loan interest while you’re in school at least half-time and continues to pay it during a six-month grace period after you leave school.

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: -If you’re still borrowing for your education, the federal student loan interest rate for undergraduates is 4.99% for the 2022-23 school year. Federal rates for unsubsidized graduate student loans and parent loans are higher-6.54% and 7.54%, respectively.

Detailed explanation-4: -If you got your Direct Subsidized or Unsubsidized Loan on or after July 1, 2022, and before July 1, 2023, it will have a fixed interest rate after the payment pause ends: For undergraduate students, the interest rate for Direct Subsidized Loans and Direct Unsubsidized Loans is 4.99%.

Detailed explanation-5: -Federally-Owned Loans Serviced by MOHELA With over 40 years in the student loan servicing industry, we have the expertise to help manage your loans – answer any account questions, help you explore your benefits and repayment options and process your payments.