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What is an unsubsidized loan?

An unsubsidized loan is awarded without regard to financial need. You will be charged interest from the time the loan is disbursed until it is repaid in full. If you allow the interest to accumulate while you are in school or during other periods of nonpayment, it will be capitalized. Capitalized means that the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount. NOTE: If your interest is capitalized, it will increase the amount you have to repay. If you choose to pay the interest as it accumulates, you will repay less in the long run.

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