The US Department of Education offers students subsidized and unsubsidized loans based on their financial need if they are eligible.
Who pays the interest on a Direct Subsidized Loan?
Actually the U.S Department of Education pays the interest on a Direct Subsidized Loan.
Is it ever possible for me to cancel a loan because I decided I do not need it?
Absolutely, if you do it before your money is disbursed you can cancel all or part of your loan at any time.
Do you also know about federal student loans? Won't the interest be much high?
If you show financial need, the government pays the interest on some loans while you are in school and during some periods after school.
so I should go for it?
Don't be afraid to take out federal student loans, but you should be smart about it.
How do I do this then?
Do you want to apply for a federal student loan?