In this project we looked at several different kinds of loans. Those being subsidised, non-subsidised, and bank loans. The difference being that in a subsidised loan, the responsiblity to pay is that of the government until that borrower stops going to school, or finishes school. The interest rate of this type of loan is around 3-6 percent.
Then is a non-subsidised loan the responsibility is that of the borrower through out the whole time the loan is in effect. This meaning no matter whether they are going to school or not, they still have to pay all the time. The interest rate right around 7 percent.
Then is a non-subsidised loan the responsibility is that of the borrower through out the whole time the loan is in effect. This meaning no matter whether they are going to school or not, they still have to pay all the time. The interest rate right around 7 percent.