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How does paying interest on an unsubsidized student loan work?
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<blockquote data-quote="Ken" data-source="post: 2230919" data-attributes="member: 206975"><p>I'm currently in the process of requesting a loan for college; because I'm under 24, I'm still considered a dependent of my parents making me ineligible for the subsidized loan (due to lack of financial need). I understand I'll be charged interest while I'm attending but how much am I paying. Say the loan was for $1000 and the interest was 6.8%, would I pay $68 per month for 4 years?</p></blockquote><p></p>
[QUOTE="Ken, post: 2230919, member: 206975"] I'm currently in the process of requesting a loan for college; because I'm under 24, I'm still considered a dependent of my parents making me ineligible for the subsidized loan (due to lack of financial need). I understand I'll be charged interest while I'm attending but how much am I paying. Say the loan was for $1000 and the interest was 6.8%, would I pay $68 per month for 4 years? [/QUOTE]
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