I have a direct subsidized loan for $1718 first semester and $1717 second semester. I need some of this money for gas to get to and from school. I want to take the whole thing and just put it into a separate bank account and just use what i need for gas. The problem is i don’t know if the interest starts six months after i take the loan or six months after i graduate. I dint want tons of interest to pay! So basically i just need to know is if i take the money will it accumulate interest while im still in school?
When Does Interest Start On My Direct Subsidized Loan?
February 21st, 2010 by Home Loans Leave a reply »
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Enrolled at least half time
During certain deferment periods
During a grace period
Once you no longer meet those criteria, interest will accrue on your loans.
Durring school, the governement pays for your interest. Once you stop going to school, typically after you graduate, then you have 6months before you have to pay the interest.