Government subsidized loans- The federal government pays the interest of student loans while you are in college.
Unsubsidized loans- Government does not pay the interest.
Bank loan- A amount of money is loaned with interest from a bank to a borrower.
INTEREST RATES - Subsidized and unsubsidized are 4.66%. Bank loans interest can differ.
Example of a subsidized loan- (for this example imagine 20,000 is borrowed) 20,000(1+.0466)^10 = 31,538.22 = 262 dollars a month for 10 years.
Unsubsidized loans- Government does not pay the interest.
Bank loan- A amount of money is loaned with interest from a bank to a borrower.
INTEREST RATES - Subsidized and unsubsidized are 4.66%. Bank loans interest can differ.
Example of a subsidized loan- (for this example imagine 20,000 is borrowed) 20,000(1+.0466)^10 = 31,538.22 = 262 dollars a month for 10 years.