On my Award Letter, I received both subsidized and unsubsidized loans. Whats the difference?
You must have financial need to qualify for the subsidized loan. The federal government does not charge interest on a SUBSIDIZED loan while the borrower is enrolled in school at least half time, during a six-month grace period after the borrower leaves school or graduates, or during authorized periods of deferments. However, interest is charged throughout the life of an UNSUBSIDIZED loan, and it starts to accrue on the date of disbursment.
