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Ok, I am semi-good with math, but I am unsure of how interest works with govt loans.
Lets say I borrow the 8.5k sub and 30k unsub in stafford loans/yr. Loan calculators only accept the net loan sum and automatically assume I start paying it back, which ignores the years of accumulated interest.
How do i go about calculating total loan cost while incorporating the 4 yrs of unpaid interest on the first year 30k loan, 3 yrs on the second year loan etc?
Thanks in advance!
Lets say I borrow the 8.5k sub and 30k unsub in stafford loans/yr. Loan calculators only accept the net loan sum and automatically assume I start paying it back, which ignores the years of accumulated interest.
How do i go about calculating total loan cost while incorporating the 4 yrs of unpaid interest on the first year 30k loan, 3 yrs on the second year loan etc?
Thanks in advance!
