Now that school is back in session, it’s time for our first pop quiz.
The topic? What exactly did you borrow to pay for this semester?
If you needed extra money to close your tuition gap, you may not have paid too much attention to what form it came in—you just knew you needed $X to cover your costs. And you know what? That’s understandable.
Ideally, you’d know “Perkins loans vs. Stafford loans” and “unsubsidized vs. subsidized” before you borrow. However, that doesn’t mean it’s too late to learn these differences! (It’s not like you have any real tests going on in September anyway.)
As your study aid, check out this infographic. It details the essential elements of your student loans: their interest rates and the maximum amounts you can borrow. Now, the next time you borrow, you’ll have all the information you need.
(Click image to enlarge.)
Want even more infographics? Check out saltmoney.org.