How does paying interest on an unsubsidized student loan work?

Ken: How does paying interest on an unsubsidized student loan work?
I’m currently in the process of requesting a loan for college; because I’m under 24, I’m still considered a dependent of my parents making me ineligible for the subsidized loan (due to lack of financial need). I understand I’ll be charged interest while I’m attending but how much am I paying. Say the loan was for $ 1000 and the interest was 6.8%, would I pay $ 68 per month for 4 years?

Answers and Views:

Answer by Unknown
Stafford loans do not require you to pay anything on them while you are enrolled at least half time. So you will pay 0. Yes, you are charged interest. The interest is added on the the amount you owe while you are a student… you won’t pay anything.