Can I accept both a federal unsubsidized loan and a federal subsidized loan for the same semester?

Question

Also, can I make regular payments on it starting immediately or do I have to defer the payments until after I graduate?

Answer 1

Yes, as long as you are eligible you can be awarded and accept both subsidized and unsubsidezed loans for the same semester.

There is never any early payment penalty for these loans - you can pay your loan off in whole or in part before you graduate. BUT if you don't need all the loans that you are awarded, you may want to reduce the amount you borrow before they are disbursed because the government charges loan origination fees.

Answer 2

There are maximum annual limits for the Stafford Loan program. Generally, undergraduate students cannot borrow more than $5500 per year under the program (although independent students can borrow more, up to $10,500 - although $5000 of that MUST be unsubsidized). Specific limits are placed on freshmen ($2625) and sophomores ($3500). Graduate students can borrow a total of $18,500 per year (up to $8500 subsidized). Your school's financial aid office will determine your eligibility for both subsidized and unsubsidized loans; based on your EFC (an expected contribution calculated based on the FAFSA), you may or may not be eligible for subsidized loans.

As far as payments, you have the option of deferring all payments until after your schooling is complete - in fact, you get a 6-month grace period after you leave school. Remember, though, that for unsubsidized loans, interest will accrue while you are in school - so if you prefer you might want to make payments while in school so that the interest doesn't capitalize and put you further into debt. Unless you are concerned about your credit score, there is no good financial reason to make payments on the principal while you are still enrolled - find something better to do with your money (like saving it in an interest-bearing account!) until you graduate.

Answer 3

You can take out both. You can pay in the interest on the unsubsidized loan and the government pays the interest on the subsidized loan. You cannot repay the principle while in school

Answer 4

yes (i know this because my school has offered this to me for this coming fall semester of grad school) and you can pay anytime you want, for the subsidized loan you just don't have to pay until you graduate or fall below full-time status as a student. if you choose to start paying off immediately, you'll be better off in the long run.

Answer 5

yes

Answer 6

Yes, and you can start paying whenever you want.

Answer 7

Yes you can.