Loans are borrowed money that you must repay with interest. If you apply on time each year, the amount of student loans you will be offered will be limited to what you can reasonably afford to pay back when you graduate and begin working. Interest on Perkins loans does not accrue while the student is enrolled. Both interest and principal payments are deferred for 7 to 9 months after the student drops below half-time enrollment or leaves school. Subsidized Stafford Loans.
Interest is subsidized while the student is enrolled.
For detailed information on the Federal Stafford Loan Program, please click here . Unsubsidized Stafford Loans. Interest begins once the loan funds are disbursed. Payments, however, on both interest and principal do not have to be paid until 6 months after the student drops below half-time or leaves school. The Admissions Committee of each GTU school considers all applicants for a limited number of merit-based scholarships without regard to need.