Understanding the Subsidized & Unsubsidized Federal Direct Student loans & Parent Plus Loans

[@JoudaniMaria]

The explanation you're looking for starts at minute 2:47 Thank you for this video Ed.

[@ShopperPlug]

Jeeze these are really helpful advices, my parents are dumb and would never utilize these concepts. 12:08 - "For obvious reasons", the government really helping future students out here.

[@josephbielski8027]

Thank you for the video. Hackettstown High School Class of 2023!

[@barbarathen9371]

Thank you for everything that you do, especially helping with scholarships and applications. Our daughter is at Bergenfield HS, Bergenfield NJ Class of 2022.

[@edzamoracollegeprepchannel3820]

Thank you for watching and helping the scholarship fund. Your school has been counted.

[@christyschiller8931]

Excellent excellent info. This answers ALL my questions. So clear. Ed you are awesome.

[@edzamoracollegeprepchannel3820]

Thank you for watching I appreciate it

[@katherined.7486]

Thanks. This really helps to clarify things, re: federally subsidized loans--

[@edzamoracollegeprepchannel3820]

Thank you for watching and commenting we are using the videos to create scholarships so the more you watch the more it helps.

[@2eckert]

Thanks Ed for another great video. Morris County School of Technology class of 2022

[@edzamoracollegeprepchannel3820]

Thank you for watching your high school has been counted.

[@jackryan5214]

Thanks, the information was helpful. Saved me a trip to the bank. Much thanks :)

[@edzamoracollegeprepchannel3820]

Thank you for watching and helping the scholarship fund

[@robertneumeyer2329]

Thanks for this video Ed! Tons of helpful information on this one. Will be watching this multiple times in the future when it comes time to deal with the loan process. Roxbury High School Class of 2022

[@edzamoracollegeprepchannel3820]

Thank you for watching your high school has been counted

[@maymounaz1866]

Great video!! I fully understand the differences between the federal stafford loans. Thank you 🙏🏾

[@edzamoracollegeprepchannel3820]

Thank you for watching and helping the scholarship fund.

[@Stussie]

Thank you for this video! - Passaic County Technical Institute Class of 2024!!

[@newwaveplus]

Thanks for the video Ed, it was very informative and helped me fill out my FAFSA. Also nice Spider-Man poster in the background, I'm a big Spider-Man fan LOL

[@edzamoracollegeprepchannel3820]

Glad I could help. Thank you for watching.

[@heroldcabanban446]

I’m lookin for federal spending money can we Get education only or public school

[@meganboyer225]

So I’m struggling with filling out paperwork for Medicaid because they wanna know how much my student loans are but the paper in the list is so long I don’t know what to put in to the information line.

[@nessam6253]

How to i go about paying the subsidized loan interest? Im not sure where im supposed to go or do to start paying

[@laneshiapatton8010]

Thanks so much for making yourself available such great information!!!! I’m now a subscriber 👍

[@edzamoracollegeprepchannel3820]

Thank you

[@allkindsamusicchick]

I'm convinced that state schools and community schools are the way to go. The pickle I am in now is due to my naivety. My ex's new wife at the time, and my ex, played up a particular university out of state, to my child, which was a nice school of course, but at 40K a year. My child could have gone to another nice school, in-state, but would have only cost me approx 4K a year. My ex and I intended to split the tuition, on the upscale university, which we did. I would do anything in the world for my son. If he was convinced that this was the school that he needed to go to, then so be it, in my eyes, although we went on many a tour, and he would have been able to attend all, but one other college. I have clawed my way through much to care for him in any way that I possibly can. Unfortunately, me, not knowing the price of tea in China, and thinking all would be well. Here we are, 12 years down the road, and the payments keep going up and up. It's scary. I'm getting older, and worry about that loan more and more. I had no idea what I was getting myself into, but my ex's wife knew EXACTLY why she was pushing for the higher-priced school. I will not go into details, but she was determined to control the course of the future, unbeknownst to me. Her brother-in-law, married to her sister, a second marriage, did the same thing to his ex. He is a lawyer. I don't begrudge the education or the experience that my son was able to enjoy, and friendships made, due to attending this particular university, but 12 years down the road, and no relief in sight, has me stuck in places I don't want to be. I have no clue how this will work out. I'm going to apply for IDR, but, aside from lowering the payments; how can this change-of-status payment actually re-size the loan in my favor. Trying not to cry here. What to do???? Any sound advice?? Thanks.

[@lauras627]

Make your son pay for it. Why not? Or, help you!

[@edzamoracollegeprepchannel3820]

Thank you for watching

[@boykekp]

Tell your son the truth and ask him to help. He already graduated so I'm sure he's going to chip in.

[@allkindsamusicchick]

@@boykekp I won't ask for help. My mistake for not knowing the score. I will handle it...somehow. Thanks for the response. Have a good night!

[@jennifermeola1567]

Thank you, Pequannock Township High School senior 2022

[@edzamoracollegeprepchannel3820]

Thank you for watching and helping the Scholarship Fund. Your High School has been counted.

[@Asiahkye]

Should the plus loan show on the students credit ? I know you stated that it’s only in the parents name but I believe some of my parent plus loans are on my credit report

[@edzamoracollegeprepchannel3820]

The Plus loan is only in the parent's name. The student has no ownership of it in any way.

[@thehumblehygienist2805]

WOW!! I think you just took a WHOLE lot of stress off of me!! My son is a sophomore and the financial aid office suggested the Parent Plus loan when he went to set up a payment plan. We have been struggling paying off the balance each term! One parent has low credit score the other excellent, should the low score parent/spouse apply for the Parent Plus loan?

[@rosiehudak7136]

Thank you for the video! Very helpful! I just got back my FAFSA reward and it tells me that I need $3,500 in subsidized, $2,000 in unsubsidized, and $2,272 in parent plus loan and those are waiting my approval or disapproval. I'm unable to do the parent plus loan because my parents are financially unable to help me through college. What does it mean for me financially if I deny the loan on the tab to "accept award offer"? Is this parent loan required? If my parents are unable to help me, what should I do?

[@edzamoracollegeprepchannel3820]

The college is putting that loan on the award letter to show you that's the remaining amount needed to cover the college cost for the year

[@davekaneshiro7745]

Thanks Ed, very helpful content. My daughter already submitted her FAFSA and received the financial aid summary report which outlines the COA and estimated remaining cost after grants and scholarships. Freshman fall classes already start in mid-August, and was wondering what is the latest to apply for PLUS? Of course, we'll try to do this as early as possible.

[@edzamoracollegeprepchannel3820]

You can do the Plus loan the day before it's due the loan process is very fast.

[@rw53522]

Hi Ed, I'm a confused about what you said in a couple of videos: If FAFSA says your family can pay $20,000, and the net price of the collge is $40,000, you need $20,000 of aid. But is the maximum loan amount $5,500? How can you come with the rest of the money. Will they give you other forms of financial aid?

[@riazdeepbhatti4287]

In this example 5500 is max loan amount for the year. 20000 for the whole 4 year degree.

[@eldaplaza9105]

Thank you for the videos

[@edzamoracollegeprepchannel3820]

Glad you like them!

[@arafatamin3924]

Does the loan effect any other awards such as TAP?

[@msj955]

If the student is 17 can they still can still apply for the federal loan and do the MPN?

[@edzamoracollegeprepchannel3820]

Yes you would still fill out their MPN and Entrance paperwork

[@kathyluebke3158]

Do you have to complete FAFSA and Promissory notes every year?

[@edzamoracollegeprepchannel3820]

Just the Fafsa every year

[@Seriesofcrystal]

Hi ! What does it mean if the financial aid office says they will increase my unsub loan by 2,500 ? like does that mean i will get that amount ? if so when

[@edzamoracollegeprepchannel3820]

This is usually done based on becoming independent or the Plus Denial. The amount of the increase would be $2,500 per semester

[@edzamoracollegeprepchannel3820]

Thank you for watching

[@Seriesofcrystal]

@@edzamoracollegeprepchannel3820 but will i get this money this semester ?

[@edzamoracollegeprepchannel3820]

@@Seriesofcrystal Spring 2021 or Fall 2021 which one do you mean?

[@Seriesofcrystal]

@@edzamoracollegeprepchannel3820 Spring 2021

[@CuriousAndCuriouser1865]

So the interest on a student loan is applied on the principle Yearly and not monthly? So what happens if you pay off a subsidized loan before you are out of school? There is no interest payments? For a subsidized loan, what if a person pays off part of the loan while in school? Does the interest applied yearly then apply to the remaining amount instead of the original amount? unsubsidized loans accrue interest on the remaining amount yearly?

[@kkamisleftpaw]

how often does interest acquire on unsub loans? that is the only thing I am eligible for now that I am considered a graduate student

[@maido8977]

hi Ed, thank you so much for the video, really helpful. We wonder if we should pay it off for 25 years? Which one is better 10 or 25 years?

[@edzamoracollegeprepchannel3820]

10 years would be better because it is usually best to get rid of debt. But it always depends most on what you can afford to pay.

[@teacher1460]

Thank you!

[@edzamoracollegeprepchannel3820]

Thank you for watching and commenting we are using the videos to create scholarships so the more you watch the more it helps.

[@jon3320]

Are PLUS loans only for a parent of a student? For instance, if I'm going for my masters and my parents aren't involved whatsoever in the process, would I fill out the PLUS loan for myself?

[@edzamoracollegeprepchannel3820]

Yes as a student you can for grad school take out a Grad Plus loan

[@tdw5775]

Thanks for sharing this information. I have yet to understand why I'm being discouraged to take out student loans that are rewarded to me. Why do they offer it, then turn around and tell you that you really should try not to? Such mixed signals. Is it true that if they reward you these loan amounts, that you are actually eligible for them, or they see a financial need for it?

[@mythiclunar5761]

Hey guys, What if I already graduated from a bachelor's degree and I am interested on pursuing a second bachelor's, will I be able to get an undergraduate loan and the grad plus at the same time? Will they just aprove the cost of tuition or they will aprove more based on other related expenses? Thank you!

[@celmt6068]

Hi Ed, I been watch some of your loan videos and I am a little confused. My son is a 2nd year student at Rutgers (NJ state university). I think we were awarded only an "Unsubsidized" loan for each of the 2 years, which we decline. My questions are: 1. Is there always a Subsidized & Unsubsidized portion to each loan? 2. If I understand correctly the interest on an unsubsidized loan starts the day you take it out and we would be responsible for all of it. Am I correct? Thank you.

[@edzamoracollegeprepchannel3820]

Your answer 11:05 in kzbin.info/www/bejne/eJu7lJ6bpqqrh5I

[@heroldcabanban446]

Student login can you sign everything

[@janiyahc23]

thank you!!

[@Gabrielpitts2]

quick question, i’m going to be a junior next semester and actually do not qualify for the SUBSIDIZED loans anymore, is it possible i can take out the full amount of $6500 in UNSUBSIDIZED loans, to cover my costs?

[@edzamoracollegeprepchannel3820]

How many college credits do you have?

[@Gabrielpitts2]

Ed Zamora as of now i have 62

[@edzamoracollegeprepchannel3820]

@@Gabrielpitts2 Ok you may still have space for unsub loans. The max direct loans for a Dependent Student is $23,000 for subsidized loans and $8,000 for unsubsidized.

[@edzamoracollegeprepchannel3820]

If you are independent the max allowed goes up to $57,500

[@lisagordon2632]

Good clarification Pequannock Township HS class 2022

[@edzamoracollegeprepchannel3820]

Thank you for watching your high school has been counted

[@alf2540]

THANK YOU SO FREAKING MUCH

[@edzamoracollegeprepchannel3820]

Thank you for watching and helping the channel

[@cperalta777]

Hi Ed, my student received an award letter today and the award is $15k in parent plus loan and $1k in unsubsidized loan. Why wasn’t she offered the $3k subsidized loan and $2k unsubsidized loan? Can we request for these student loans? I’d rather not take out a parent plus loan. Can you please help me? I’m so confused. Thank you.

[@cup_o_TMarie]

Great content 👏 Do your recommendations still stand in the light of rising interest rates today?

[@heroldcabanban446]

Because you know everything to federal life terms

[@kathyluebke3158]

If you pay off these loans early in order to reduce the amount of interest you pay, why do they take your payment and pay interest off before principal? Why would you pay off early if they are going to take all of the interest before the principal?

[@mariabaron6911]

Hi Your video was very helpful. Can the subsidized loan be taken away from you?

[@edzamoracollegeprepchannel3820]

yes if you don't have financial need at the college

[@janayewill3883]

50 a month i feel is a waste a time on interest. I will need to apply for a grad plus loan

[@heroldcabanban446]

Ok it’s only first to confirm subtitles about training hours

[@floritzellopez4198]

THANK U

[@edzamoracollegeprepchannel3820]

Thank you for watching and helping the scholarship fund.

[@heroldcabanban446]

How is private school of federal are they rich

[@ariannalerdo6544]

the lack of views on videos like this speaks volumes

[@edzamoracollegeprepchannel3820]

Thank you for watching and commenting we are using the videos to create scholarships so the more you watch the more it helps.

[@heroldcabanban446]

I’ll use IRa to make money for bank credit union

[@aaronsandoval6164]

Thanks - I have twin boys, graduating class 2022 Hope Christian HS in Albuquerque NM. They both will be entering Liberty University in the fall. Is there any help $$ available for parents of multiples in college?

[@heroldcabanban446]

So I have to get ID to go to new heaven school because

[@heroldcabanban446]

If I’m your student it’s illegal to work 2 work hours because if company need a traing then only one company have security FAFSA AID ME TO PAY CAN I USE YOYR CREDIT

[@rosejuliano2847]

Thank you, Saddle Brook High School Class of 2023 Melanie Juliano

[@heroldcabanban446]

No verification 2million to confirm it

[@hocytek2561]

Is there any way i could get a private audience from you. I tried your web site with no success.

[@edzamoracollegeprepchannel3820]

Yes I help families through one-on-one meetings just text me 908-400-1363

[@heroldcabanban446]

Ok load is IRA

[@karendeane7786]

IHA 2023

[@heroldcabanban446]

Let’s get skyline to heaven so I can get to sign my HR TO IF GOD NEW PRESIDENT IS THAT NOAH

[@heroldcabanban446]

Because I’m looking for federal police secretary to protect god he might need me t9 heaven you know can we go to federal bank credit to save Godzilla here because I have a Godzilla can we take Godzilla to heaven

[@Perumanian]

FAFSA. FAFSA

[@josephbielski5422]

Thank you for the video. Hackettstown High School Class of 2023!