Federal student loans generally have lower rates of interest compared to private student loans, though they may not cover the complete cost of education.
When federal student loans aren’t enough, private student loans can be very helpful in filling the financial gap.
Eligibility in the unsubsidized loan program is not contingent upon financial need; however, you must file the FAFSA to be considered for an Unsubsidized Loan.
As the borrower, you (the student) are responsible for the interest on an unsubsidized loan while in school, but payment can be deferred.
Interest rates vary depending on loan type, when the loan was first disbursed, and your degree status (undergraduate or graduate).