What are student loan interests?
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alvan
Apprentice
Joined: 07 Jun 2007
Posts: 10
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 Posted: 11/08/07 - 05:17 Post subject: |
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| Dear everyone. Please, can you guys give my some tips here? I am going to be away at university studying. My mom and dad will help me a bit but they are not rich or anything. I am thinking I might well be able to get a student loan and that this will help me cover all my costs. But there are some things I don't know. Like how much interest you usually pay on a student loan? Do you know? |
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garik
Apprentice
Joined: 29 Dec 2006
Posts: 8
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| Posted: 12/05/07 - 00:02 Post subject: |
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| The rates are lower than for personal loans. I looked around and the federal rates I think are fixed at around 6 per cent. This will be paid off over a long time. Private student loans are also available. These have higher rates - from 7 per cent APR to 10 per cent and up. So a federal loan is certainly more attractive if you can get one. Besides, also look into any scholarships you might be able to get your hands on. |
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