Realityrecruits.com believes that every student should have the same knowledge about college loans and the loan process, so that each student has the same opportunity to receive these loans.

Need-based loans (Subsidized Stafford Loan and Federal Perkins Loan ) are great student loans Stafford Loans are either subsidized (the government pays the interest while you're in school) or unsubsidized (you pay all the interest, although you can have the payments deferred until after graduation). To receive a subsidized Stafford Loan, you must be able to demonstrate financial need.

Subsidized Stafford Loans are available to students who have shown "need" as determined by their financial aid application. The federal government subsidizes the loan by not charging any interest until six months after the student graduates, leaves college, or falls below the half-time attendance status.

Unsubsidized Stafford Loan is not based on need. Virtually all students who fill out a FAFSA are eligible for these loans.  From the moment a student takes out an unsubsidized Stafford loan, however, he or she will be charged interest.  Students are given the option of paying interest while in school or deferring interest payments (which will continue to accrue) until repayment of principal begins.

Stafford Loans allow dependent undergraduates to borrow up to $2,625 their freshman year, $3,500 their sophomore year and $5,500 for each remaining year (independent students can borrow an additional unsubsidized $4,000 the first two years and $5,000 the remaining years). Tnrecruitingtools.com believes that every student should have the same knowledge about college loans and the loan process so that each student has the same opportunity to receive these loans.

Need-based loans (Subsidized Stafford Loan and Federal Perkins Loan ) are great student loans Stafford Loans are either subsidized (the government pays the interest while you're in school) or unsubsidized (you pay all the interest, although you can have the payments deferred until after graduation). To receive a subsidized Stafford Loan, you must be able to demonstrate financial need.

Subsidized Stafford Loans are available to students who have shown "need" as determined by their financial aid application. The federal government subsidizes the loan by not charging any interest until six months after the student graduates, leaves college, or falls below the half-time attendance status.

Unsubsidized Stafford Loan is not based on need. Virtually all students who fill out a FAFSA are eligible for these loans.  From the moment a student takes out an unsubsidized Stafford loan, however, he or she will be charged interest.  Students are given the option of paying interest while in school or deferring interest payments (which will continue to accrue) until repayment of principal begins.

Stafford Loans allow dependent undergraduates to borrow up to $2,625 their freshman year, $3,500 their sophomore year and $5,500 for each remaining year (independent students can borrow an additional unsubsidized $4,000 the first two years and $5,000 the remaining years). Graduate students can borrow $18,500 per year, although only $8,500 of that is subsidized.

Many students combine subsidized loans with unsubsidized loans to borrow the maximum amount permitted each year.

To apply for a Stafford Loan, you must submit the Free Application for Federal Student Aid (FAFSA). Even though the unsubsidized Stafford Loan is available to all students regardless of financial need, you must still submit the FASFA to be eligible. You can receive a subsidized loan and an unsubsidized loan for the same period.

The Perkins Loan is awarded to undergraduate and graduate students with exceptional financial need. Although the money comes from the government, these loans are administered through the college aid office. (The Perkins Loan is the best student loan available. It is a subsidized loan, with the interest being paid by the federal government during the in-school and 9-month grace periods. There are no origination or guarantee fees, and the interest rate is 5%. There is a 10-year repayment period. Payment begins only after the student graduates, leaves school, or drops below half-time status. 

The amount of Perkins Loan you receive is determined by your school's financial aid office. The program limits are $3,000 per year for undergraduate students and $5,000 per year for graduate students, with cumulative limits of $15,000 for undergraduate loans and $30,000 for undergraduate and graduate loans combined.

Institutions participating in the Expanded Lending Option (ELO) may offer higher loan limits for the Perkins Loan. To participate in the ELO, a school must have a default rate no higher than 15%. The annual loan limits are increased by $1,000 each and the cumulative limits increased by $5,000 and $10,000, respectively.

PLUS Loans (Parent Loan for Undergraduate Students).  Parents are allowed to borrow up to the total cost of attendance at a college minus any financial aid received.  This means anyone has an average credit score will probably be awarded this loan.  This loans have variable rates.  Repayment begins 60 days after you receive the loan and may extend up to 10 years.