Stafford loan interest

[RoadRunner17]

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How often is the interest on the unsubsidized Stafford loan (and subsidized Stafford loan after graduation) calculated? I know it doesn't capitalize until after graduation/repayment starts, but how often is interest determined? Is that 6.8% an annual rate or a monthly rate?

Thanks,
Confused

 

[TMP-SMX]

Interest accrues daily by 0.068/365.25.