Millions of students each year take out student loans to help pay for their education, and it’s suggested to take out a federal loan for lower interest.
There are two types of student loans available to those who need them.
These are subsidized and unsubsidized.
Anyone can get subsidized, but getting subsidized requires qualification.
To get this type, you must show you have financial need.
This is proven by filling out a FAFSA.
Subsidized are available to students enrolled as undergrads at least half time.
Unsubsidized are for any student enrolled half time, including graduate and professional degree students.
What are student loans and their interest rates right now?
The fixed rate is the same for unsubsidized loans, but it increases for other loans.
For graduate or professional degrees, unsubsidized loans are 5.28% from July 1, 2021, through June 30, 2022.
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