Student loan repayment

Front

What happens to interest during Forbearance?

Back

During Forbearance, the loan accrues interest.

Front

Do a majority of students receive student loans/aid to help pay for college?

Back

True

Front

What is the relationship between loan term length and total interest paid?

Back

The longer the term, the more total interest you pay, which increases the cost of the loan.

Front

What is a subsidized loan?

Back

A subsidized loan is one where the interest does not accrue while you are in school.

Front

What is an unsubsidized loan?

Back

An unsubsidized loan is one where interest accrues while you are in school.

Front

Do private student loans generally have better interest rates than government student loans?

Back

False

Front

What is the impact of a longer loan term on monthly payments?

Back

A longer loan term typically results in lower monthly payments.

Front

What is the impact of a longer loan term on total loan cost?

Back

A longer loan term usually increases the total cost of the loan due to more interest accrued.

Front

What is the difference between federal and private student loans?

Back

Federal student loans typically have lower interest rates and more flexible repayment options compared to private loans.

Front

What is the purpose of student loan forbearance?

Back

Forbearance allows borrowers to temporarily stop making payments or reduce their payment amount.