Hi! So this is my first time taking out loans. I took one out this past fall semester and will be taking another one for this spring in the next few days. My fall semester loans shows on student gov website as 1 loan, so just curious when I take out my second loan in the next few days, it will show as a separate loan with its own interest right(not combined with the fall semester loan)? I’m a graduate student if that matters.
student loans and how they show up
byu/berryberry_7 inStudentLoans
Posted by berryberry_7
1 Comment
Yes. Each time you take out a loan, it will show as it’s own loan, because it will have a disbursement date that is unique to that loan, that school, and that semester.
For example, you go to a 4 year college that runs on semesters – you will have 8 different and individual loans on your FSA account.
If you go to a 4 year college that runs on trimesters – you would have 12 different and undividual loans on your FSA account.
Now, depending on they do things now, you may actually end up with more than that count because they do split subsidized and unsubsidized loans apart from each other now.
Each loan may possibly have its own interest rate, but as long as you are actively enrolled, all loans will start repayment at the same time – they automatically give you a 6 month referral after you stop going to school before your loans enter into repayment (assuming you have federal loans and not private loans).