Remember that you are charged interest from the time the loans is disbursed until it is paid off. If you allow the interest to accumulate, it will be capitalized or added to the principal loan amount and additional interest will be based on the current loan balance. If the student's enrollment is less than halftime status, regular payments will begin within six months. More information is available, once you review the Federal Programs. You can receive a subsided and unsubsided loan for the same enrollment period.
Some students combine both loans to borrow the maximum amount permitted each year.
Remember, to apply for a Stafford loan, you must submit the Free Application Federal Student Aid to be eligible. If you are faced with unmet need, Private or Alternative Loans provided by lenders offer a variety of supplement loan programs. Most lenders offer competitive interest rates. There are several programs offered by the Federal government. Private Loans are education loans offered by private lenders to help eliminate or reduce the difference between what your school offers you and what you have to pay.