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Consolidating subsidized and unsubsidized student loans quirky dating

Federal student loans are loans that are made through funds given or insured by the federal government.

Private student loans are loans that are made by private, non-government entities such as banks, credit unions, schools, or state agencies.

Interest accrual while the student is in school is dependent on the type of Direct Loan received (subsidized or unsubsidized).

Unsubsidized Direct Loans will accrue interest while the student is in school.

What’s more, if you ever default on a student loan, they can garnish your wages and your tax returns. For these reasons, you need to be careful about how much you borrow and you shouldn't see student loans as a way to pay for a fun college lifestyle.

The cool sneakers you buy with your student loan money will end up costing you a whole lot more once you pay interest on them.

That means that if you owe tens of thousands of dollars in student loan debt there are very few ways to get out of that obligation.

In fact, we would say that they are more difficult to understand than the series finale of Lost (if you've seen it).

Our goal here at Millennial Personal Finance is to break down these complicated subjects so millennials have the best chance at putting themselves in great financial situations. Our knowledge of student loans, to our own despise, stems from the massive amount of debt we collectively had to take on to fund our educations.

As mentioned above, most students deplete their available federal funding before they move on to private loans.

That’s because federal loans have several benefits that don’t apply to private loans.


  1. Highlights. In this article, I’ll outline the basics of federal student loans and private student loans, discuss whether private student loans make sense, look at the current interest-rate climate, and explain how to get started in your search for the best student loans.

  2. Log in to view your federal student loan data, notify schools of counseling completion,and save proof of counseling completion. If you are not logged in, you cannot

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