Stafford Loans are federal loans given to college students for undergraduate studies. If they are subsidized, the federal government pays the interest payments until the student leaves school. If the loan is unsubsidized, the interest accumulates and is tacked onto the loan payment after the student leaves school.
The Obama Administration is trying to enact legislation that will enable more people to go to college and level the playing field so that those who do attend are not overly financially burdened.
Financial aid today at public universities is drying up because of public schools’ rising costs in a bad economy. Financial aid is also drying up at private schools as more of their students have higher financial needs.
May 1 is the usual deadline for sending in your official acceptance to a college. You should have your aid packages in hand and be ready to choose a school soon. But, what is the best choice for the next four years?