Q: How do the payments work? How much interest is there? Or is that through the school? I have been approved for one of these and I was just wondering if I should accept it. Also how would all of it work once I accepted it. Please help!
A: Here is how it works: You accept it and read the terms and interest rate prior to signing anything. You will not get any time that is free from interest accruing after you graduate from school. The payments schedule will be on the paperwork. You are required to make payments on it whether you get the type of job you are training for/ taking these classes for. Interest accrues and makes the actual payment higher than is on the contract because you get a student loan for each school year. You go to school for more than one year. Multiply the payments by how many years you have to study.