![\"\"](\"https:\/\/www.newsilike.in\/wp-content\/uploads\/subsidized-loans-vs-unsubsidized-loans.png\" "\\"\\"")
<\/p>\n<\/p>\n
In today\u2019s world, a good education can lead to immense opportunities and can take you one step closer to the career path of your choice. Sadly, this is not the case for everyone as most of the people who attend university need to take out a student loan. The cost of a good education is quite hefty and will only increase as the years go by.<\/p>\n
There are over 10,000 students who get incapacitated and tied down due to unpaid student loans in the United States, this number is increasing each year as more people spiral into debt. To counteract this problem, programs such as student loan forgiveness and student loan refinancing are now available to help people get rid of debt.<\/p>\n
In simple terms, refinancing a student loan is when a loan provider clears your existing loan amount and replaces it with a new one. The new refinanced loan will come with different repayment terms as well as a better interest rate. Both private as well as federal student loans can be refinanced. However, if you refinance a federal loan, you will lose access to the various benefits programs provided by the government.<\/p>\n
Federal loans and private loans come with their own set of advantages and disadvantages, depending on your financial priorities and eligibility criteria, you must carefully choose the one which fits your needs accordingly. There are 2 main types of federal student loans, these are listed below.<\/p>\n
The information below is related to the 2 types of federal loans, its advantages and drawbacks. This should provide you a better perspective when it comes to\u00a0subsidized vs unsubsidized loans<\/a>.<\/p>\n When it comes to the disadvantages of unsubsidized loans, the borrower will be liable to repay the loan amount due along with interest regardless of a forbearance or deferment period.<\/p>\n The First Republic Bank is quite famous for offering students with the lowest fixed rates when it comes to refinancing their student loans. The interest rate can go all the way down to 1.95%. The catch is, to avail a low rate of interest, the applicant must have an impeccable credit score as well as an above average level of income. This loan provider offers private loans. The First Republic Bank is a loan provider that does not offer any forbearance or deferment options.<\/p>\n LendKey is not your traditional loan provider. It combines the money from credit unions and community banks and then offers applicants with relatively reasonable priced loans. This loan provider allows you to borrow a loan amount ranging anywhere from $5000 to $300,000. The only drawback is that LenKey only allows graduates to apply for a loan.<\/p>\n Student loan forgiveness is when the remaining loan amount is written off under certain circumstances. If you’re thinking about why you have not heard of this program before, it is because the eligibility criteria for student loan forgiveness is very strict and most people fail to qualify. However, there are a list of many different loan forgiveness programs, some of which are listed below.<\/p>\n It is no secret that most nursing students struggle to pay off their student loans. To ease this process, the\u00a0student loan forgiveness for nurses<\/a>\u00a0program can be opted by nursing students.<\/p>\n The state-sponsored repayment assistance programs are specifically designed to ease the debt for doctors, nurses and lawyers. Certain states also allow licensed teachers to qualify for this assistance program. To know more, visit your state website and search for information on the different kinds of benefits programs.<\/p>\n With these options now available for people facing debt, it is now much easier to rid yourself of any financial trouble. Ensure that you choose a loan provider who has your best interest in mind.<\/p>\n","protected":false},"excerpt":{"rendered":" In today\u2019s world, a good education can lead to immense opportunities and can take you one step closer to the career path of your choice. Sadly, this is not the case for everyone as most of the people who attend university need to take out a student loan. The cost of a good education is…<\/p>\n Read More<\/span> Student Loan Forgiveness: What are Subsidized and Unsubsidized Loans?<\/span><\/a>","protected":false},"author":2,"featured_media":43677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"Layout":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Student Loan Forgiveness: What are Subsidized and Unsubsidized Loans? #Loan #Studentloan","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[4634],"tags":[],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.newsilike.in\/wp-content\/uploads\/subsidized-loans-vs-unsubsidized-loans.png","_links":{"self":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts\/43676"}],"collection":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/comments?post=43676"}],"version-history":[{"count":0,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts\/43676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/media\/43677"}],"wp:attachment":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/media?parent=43676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/categories?post=43676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/tags?post=43676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Main Advantages of Subsidized Loans<\/h3>\n
\n
The Main Disadvantages of Subsidized Loans<\/h3>\n
\n
![\"\"](\"https:\/\/rankz.io\/app\/static\/media\/orderImage\/blog\/2020\/04\/02\/Subsidized-Unsubsidized-Loan-Table.png\" "\\"\\"")
<\/p>\nThe Main Advantages of Unsubsidized Loans<\/h3>\n
\n
The Main Disadvantages of Unsubsidized Loans<\/h3>\n
What are Some of the Loan Providers who Offer Student Loan Refinancing?<\/h2>\n
The First Republic Bank<\/h3>\n
![\"\"](\"https:\/\/rankz.io\/app\/static\/media\/orderImage\/blog\/2020\/04\/02\/jan-mountain-view-ca-usa-first-republic-bank-branch-loc_98TCytC.jpg\" "\\"\\"")
<\/p>\nLendKey<\/h3>\n
![\"\"](\"https:\/\/rankz.io\/app\/static\/media\/orderImage\/blog\/2020\/04\/02\/LendKey-Review_zIVxr1M.png\" "\\"\\"")
<\/p>\nWhat are the Student Loan Forgiveness Programs?<\/h2>\n
Student Loan Forgiveness Programs for Nurses<\/h3>\n
State Sponsored Repayment Assistance programs<\/h3>\n