Subsidized loans- the us department of education pays the interest rates! Rate- 3.86%
Unsubsidized loans- you pay the interest rates or it is an added principle! Rate- 3.86%
Wells Fargo Bank loan-5%
Freshman year- 4yr -Start with 5000*(1.05)^4=6077.53
Sophomore year- 3yr -Start with 5000*(1.05)^3=5788.13
Junior year- 2yr -Start with 5000*(1.05)^2=5512.50
Senior year- 1yr -Start with 5000*(1.05)^1=5250
Totals= 22627.86
A=22627.86(1.05)^10
A=36858.40/120=$307.15 per month
