Private College Student Loan

Given both Unsubsidized & Subsidized Direct Loans, how do I know which to use?

I would like to use one over the other first, can this be an option? And only use portion of the money not all. When and how do I get a refund of the portion I don't use.

Public Comments

1. If you are given the choice, you will want to choose the Subsidized ones over the Unsub, but they probably won't give you an option. The school will award you the Sub loans if they can (not everyone is eligible) because they are better. If there is any money left over after all tuition, books, fees, dorms, meal plans, etc are paid for the money will be given to you, usually in the form of a check from the bursar's office of your school.
2. You ALWAYS want to choose a subsidized Stafford loan over an unsubsidized Stafford loan because with subsidized Stafford loans you don't have to pay back the interest on them. The government will pay your interest as long as you stay enrolled in school. You can read more about subsidized Stafford loans here: http://www.studentfinancedomain.com/student_loans/subsidized_stafford_loan.aspx