I had to take out 3 different types of loans. I took out a subsidized loan, a unsubsidized, and a parent plus loans. The subsidized loan is the only one that doesn't accumulate interest. The other two types do accumulate interest starting the day that the loans were disbursed. I was so exicted about going to a fashion school to accomplish my dreams that I didn't think about how long it would take to pay off $200,000($50,000 for 4 years) I didn't realize how unrealistic it was until after I decided to transfer to the community college to take care of my mom. So I think it was for the best that I needed to stay with my mom. |