What is a Sallie Mae Unsubsidized Student Loan?
If you've been looking into taking out a student loan, it is very possible you've been looking at the Sallie Mae unsubsidized student loan and wondering who gets such a loan, what the loan restrictions are, and what the loan conditions are.
In order to understand what a Sallie Mae unsubsidized student loan is, it's important to first understand the difference between subsidized and unsubsidized loans. Subsidized loans are those where you need to meet certain income limitation requirements. In order to qualify for a subsidized loan, you must be able to demonstrate financial need. When you take out a subsidized student loan, the federal government pays the interest on the loan while you are in school and for six months after you graduate.
On the other side, anyone can take out an unsubsidized student loan. With the unsubsidized student loan, you need to begin making payments on the interest while in school. It is possible, however, to defer interest payments on unsubsidized loans for the duration of your education and six months afterwards. When the deferral period has ended, however, you will be expected to pay back the loan and the interest that had accrued.
As with any student loan, there are a variety of lenders who make unsubsidized student loans available. Sallie Mae is one of these lenders.
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