Federal Perkins Loan: when does interest begin to take effect?

Answer Interest does not begin to accrue until you are out of your grace period and in repayment officially. You will complete your 9 month grace period first and then the interest will begin to accrue.

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How can I get rid of my private student loan and switch to a federal loan with a lower interest rate?

Call the US Department of Education because sometimes they will buy your loan off and then you can pay them instead. I have a student loan through the Dept. of Ed. and my interest is only 2%. Cal... Read More »

What is the interest rate of the Ford federal unsubsidized loan?

According to the U.S Department of Education, as of 2010, the interest rate of the Ford federal unsubsidized loan is 6.8 percent for loans that originated after July 1, 1996. For loans that origina... Read More »

Stafford Federal Student Loan interest rates are 6.8% or 3.4%?

The current rate is 3.4% for all federal student loans that were first originated during the 2011-12 award year (July 1, 2011 -June 30, 2012). If Congress does not extend the lower rates, the ... Read More »

Did you take out a Perkins Loan?

I have never heard of this option. It may be school specific. You should definitely speak with someone in Financial Aid now rather than wait until later just to find out for some reason that you wi... Read More »