If you got a loan of $5000 for 4 years, the length of time it would take to pay back that loan would depend completely on where you got this loan. With government subsidized loans they will take out an amount of interest/APR, but you will have to pay back almost twice the amount that they took out back. While a non subsidized loan you can start paying in college but if you don't your interest may increase. The last loan type is a credit union loan, these are more flexible and don't have to be payed off until 6 months after you graduate college. But if you pay them earlier you can reduce the interest. The APR for a student is 3.25% the formula is A=P(1+R/N)^NT
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January 2016
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