An interest rate is the fee that borrowers are required to pay in addition to the loan. The fee is like the usage expense that lenders ask for in exchange for taking out the loan. The interest rate is typically a percent of the loan amount. This amount changes depending on the lender.
Articles in this section
- Can I file FAFSA without a SSN?
- What is a tax credit?
- What year of tax returns does the government require?
- What states have FAFSA approved CTP?
- What is CTP?
- Can I qualify for financial aid if I have an intellectual disability?
- How do I get aid if I am an international student that doesn’t qualify for federal aid?
- Are international students eligible to apply for financial aid through FAFSA?
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- How can I find a scholarship?