Subsidized vs. Unsubsidzed Student Loans: Know the Difference for 2025

by Alex Hillsberg , MA

Student Finance & Loan Expert

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Deciding which type of student loan to apply for can be intimidating because of the options available and how they can impact your future. As a student, you might feel overwhelmed trying to understand the differences between subsidized and unsubsidized student loans. This confusion is understandable, especially when tuition and fees at public four-year universities range from $22,389 to $28,297, according to 2024 data from the NCES. Knowing which loan to choose can save you a lot of money and stress down the road.

With over ten years of expertise in career planning, I have researched data from credible sources to create this guide. My goal is to help you make an informed decision about your student loans. By the end of this article, you'll understand the critical differences between subsidized student loans and unsubsidized student loans. This knowledge will help you choose the best financial path for your education and future career.

Key Things You Should Know About Subsidized vs. Unsubsidized Student Loans for 2025

• Subsidized loans don't accumulate interest while you're in school, but unsubsidized loans start accruing interest immediately.
• Subsidized loans range from $3,500 to $5,500 per year for undergraduates, while unsubsidized loans range from $5,500 to $12,500 per year.
• Both subsidized and unsubsidized undergraduate loans have a 6.53% interest rate for the 2024-2025 academic year.
• Around 30.2 million students received subsidized loans in 2024, and about 30.7 million received unsubsidized loans.
• Subsidized loans are based on financial need and are for undergraduates only, while unsubsidized loans are available to undergraduates and graduates regardless of need.

Table of Contents

1. What are the main types of student loans available for 2025?
2. What are subsidized student loans, and how do they work?
3. What are unsubsidized student loans, and how do they differ from subsidized loans?
4. What are the current interest rates for subsidized and unsubsidized student loans for 2025?
5. How do you choose between subsidized and unsubsidized student loans?
6. How do you apply for subsidized and unsubsidized student loans?
7. Can private student loans help bridge education funding gaps?
8. How do you choose the best repayment plan for your student loan?
9. How can students manage their student loan debt effectively?
10. What are the benefits of student loan refinancing and consolidation?
11. Can accelerated graduate programs help reduce long-term student loan debt?
12. What are some alternatives to taking out student loans?
13. How might new policies affect subsidized and unsubsidized loans?
14. Are there viable student loan options for parents with bad credit?
15. Are there specialized loan options for vocational and aviation training?
16. How can federal loan forgiveness and assistance programs support long-term debt management?
17. Can an online master degree 1 year program effectively reduce educational costs?
18. How can students with poor credit access better borrowing options?
19. How can I qualify for private student loans without a cosigner?
20. Could competency based doctorate programs streamline student debt management?
21. Is choosing affordable colleges a viable strategy to reduce student debt?
22. Other Things You Should Know About Subsidized vs. Unsubsidized Student Loans

What are the main types of student loans available for 2025?

The main types of student loans available are federal and private loans that help you cover a bachelor degree cost. Federal loans are generally preferred because they offer more benefits and protections. Here are the main types:

• Subsidized Student Loans: These loans are available to undergraduate students with financial needs. The government pays the interest on these loans while you’re in school, during the grace period, and deferment.
• Unsubsidized Student Loans: These loans are available to undergraduate and graduate students regardless of financial need. Interest accrues when the loan is disbursed, and you are responsible for paying all the interest.
• PLUS Loans: These are federal loans available to graduate students and parents of dependent undergraduate students. They require a credit check and cover any remaining costs not covered by other financial aid.
• Perkins Loans: Although phased out in many places, some schools still offer these loans to students with exceptional financial needs. These loans have a low fixed interest rate and are subsidized.
• Private Student Loans: These loans come from banks, credit unions, and other private lenders. They often have higher interest rates and fewer repayment options than federal loans and usually require a credit check or a co-signer.

The chart below lists the total number of recipients of subsidized student loans and unsubsidized student loans, according to data published by FSA in 2024.

What are subsidized student loans, and how do they work?

Subsidized student loans are a type of federal loan specifically designed for undergraduate students who demonstrate financial need. These loans have several key benefits, making them the top choice for college planning for high school students. Here are some of them: 

• Eligibility: To qualify for subsidized student loans, you must be an undergraduate student with financial need. Your school determines your financial need based on your FAFSA application.
• Borrowing Limits: The amount you can borrow is determined by your school and cannot exceed your financial need. For example, first-year students can borrow up to $3,500 in subsidized loans, second-year students up to $4,500, and third-year students and beyond up to $5,500 per year.
• Interest Payments: One of the most significant advantages of subsidized student loans is that the US Department of Education pays the interest while you’re in school at least half-time, during the first six months after you leave school (grace period), and during deferment periods.
• Loan Caps: There are aggregate limits on how much you can borrow in subsidized loans throughout your college career. Undergraduates can borrow a maximum of $23,000 in subsidized loans.

What are unsubsidized student loans, and how do they differ from subsidized loans?

Unsubsidized student loans are available to both undergraduate and graduate students and differ significantly from subsidized loans in several ways. Here's a closer look:

• Eligibility: Unsubsidized student loans are available to all students, regardless of financial need. Both undergraduate and graduate students can apply for these loans.
• Borrowing Limits: The amount you can borrow is higher compared to subsidized loans. For instance, first-year undergraduates can borrow up to $9,500, with at most $3,500 in subsidized loans. Second-year students can borrow up to $10,500, and those in their third year and beyond can borrow up to $12,500 annually.
• Interest Accrual: Unlike subsidized loans, interest on unsubsidized student loans starts accruing from the moment the loan is disbursed. You are responsible for paying all the interest, even while you are in school.
• Loan Caps: Unsubsidized loans have higher aggregate limits. Undergraduates can borrow a total of $57,500, with at most $23,000 from subsidized loans. Graduate students can borrow up to $138,500, which includes loans taken during undergraduate study.
• Repayment Terms: While in school, you can pay the interest on unsubsidized loans or let it accumulate, increasing the total amount you owe after graduation.

What are the current interest rates for subsidized and unsubsidized student loans for 2025?

The current interest rates for subsidized and unsubsidized student loans for the academic year 2024-25 are higher than in previous years. The interest rate for direct subsidized and unsubsidized student loans is now 6.53% for undergraduate students. This is a significant increase from the 5.50% rate set for the 2023-2024 academic year.

Graduate students, such as those considering master's and doctorate degrees or researching how to pay for MBA, also face higher rates. Direct unsubsidized student loans for graduate and professional students now have an interest rate of 8.08%, up from 7.05% in the previous year. PLUS Loans, available to graduate students and parents of undergraduate students, now carry an interest rate of 9.08%, compared to 8.05% last year.

These rates are fixed for the life of the loan, meaning they won’t change once your loan is disbursed. The rate increase is the highest seen in at least a decade, making it even more important to understand the implications of your loan choices. Higher interest rates mean you’ll end up paying more over the life of the loan, so it’s crucial to consider your borrowing options carefully.

How do you choose between subsidized and unsubsidized student loans?

Choosing between subsidized and unsubsidized student loans depends on factors like financial need and repayment plans. Here are some key points to consider when making your decision:

• Financial Need: If you demonstrate financial need, prioritize applying for subsidized student loans first. These loans have the benefit of the government paying the interest while you're in school, during the grace period, and deferment.
• Interest Accrual: Consider how interest accrual will affect your loan balance. Subsidized loans do not accrue interest while you're in school at least half-time, saving you money in the long run. Unsubsidized student loans accrue interest from the time they are disbursed, increasing the total amount you'll owe.
• Loan Limits: Check the borrowing limits for each type of loan. Subsidized loans have lower annual and aggregate limits, which might only cover some of your educational expenses. Unsubsidized loans have higher limits, allowing you to borrow more if needed.
• Repayment Plans: Think about your ability to repay the loan after graduation. If you can manage the interest payments while in school, unsubsidized loans can be a viable option. However, if you prefer not to worry about interest until after graduation, subsidized loans are more advantageous.
• Long-Term Costs: Evaluate the long-term costs of each loan type. Because interest accrues immediately on unsubsidized loans, you'll end up paying more over the life of the loan compared to subsidized loans.
• Availability: Understand the availability of each loan type. Subsidized loans are only available to undergraduate students with financial need, while unsubsidized loans are available to both undergraduate and graduate students regardless of financial need.

How do you apply for subsidized and unsubsidized student loans?

Applying for subsidized and unsubsidized student loans is straightforward, beginning with a completed FAFSA form. Follow these steps to ensure you apply correctly:

• Complete the FAFSA: Start by filling out the Free Application for Federal Student Aid (FAFSA). This form is essential for determining your eligibility for federal student loans, including subsidized and unsubsidized student loans. You can complete the FAFSA online at the official FAFSA website.
• Gather Necessary Information: Ensure you have all required documents before you begin. This includes your Social Security number, your parent's Social Security numbers if you're a dependent, federal tax information or tax returns, records of untaxed income, and information on cash, savings, and checking account balances.
• Submit FAFSA Early: Submit your FAFSA as soon as possible after October 1st. Many schools have priority deadlines, and submitting early increases your chances of receiving more financial aid.
• Review Your Student Aid Report (SAR): You'll receive a Student Aid Report (SAR) after submitting your FAFSA. Review this report for accuracy, as it summarizes the information you provided on your FAFSA. The SAR will also indicate your Expected Family Contribution (EFC), which schools use to determine your financial aid package.
• Receive Your Financial Aid Offer: Your school will send you a financial aid offer outlining the types and amounts of aid you qualify for, including subsidized and unsubsidized student loans. Review this offer carefully to understand your loan options and obligations.
• Accept Your Loans: Log into your school's financial aid portal to accept the loans you wish to take. You can choose to receive the total or partial amount based on your needs.
• Complete Entrance Counseling: If you're a first-time borrower, you must complete entrance counseling. This ensures you understand your responsibilities and the terms of your loans.
• Sign the Master Promissory Note (MPN): Finally, sign the Master Promissory Note, a legal document in which you promise to repay your loans and agree to the terms and conditions. This can usually be completed online.

The chart below lists the total FAFSA applications from 2022 to 2023, according to the FSA.

Can private student loans help bridge education funding gaps?

In cases where federal student loans and other forms of financial aid fall short of covering the total cost of education, private student loans can serve as an alternative for students. These loans, often issued by banks or credit unions, provide more flexibility in terms of borrowing limits, which can be particularly useful for educational expenses that federal loans may not fully cover, such as summer classes or private courses.

However, private loans tend to come with higher interest rates compared to federal loans and rarely offer benefits like income-driven repayment plans or forgiveness programs. It’s crucial for borrowers to carefully evaluate the terms, including interest rates, repayment schedules, and any associated fees, before committing to private loans. Moreover, private loans typically require a credit check, and students with limited credit history may need a co-signer to secure favorable terms.

You may have questions like, "Can you get student loans for private courses?" or "Are there additional costs in summer classes?", understanding the scope of private student loans can be vital to making an informed decision. Researching lenders and comparing their options is essential to finding a loan that aligns with both immediate needs and long-term repayment capability.

How do you choose the best repayment plan for your student loan?

Several repayment plans are available, each with its own terms and conditions. Standard repayment has fixed monthly payments over ten years. Graduated repayment starts with lower payments that increase every two years. Extended repayment offers fixed or graduated payments over 25 years. Income-driven repayment plans adjust your payments based on income and family size, making them more affordable.

Here are the key steps to help you decide which plan to get:

• Evaluate Your Financial Situation: Assess your current and expected future income, living expenses, and other financial commitments. If you've ever wondered how to save for college and you got as far as setting up a fund, then include that in your calculations. This will help you determine how much you can pay each month.
• Consider Income-Driven Repayment Plans: An income-driven repayment plan might be the best option if your income is low or uncertain. These plans adjust your monthly payments based on your income and family size, making them more manageable.
• Look at the Total Cost: Calculate the total amount you’ll pay over the life of each repayment plan. While some plans offer lower monthly payments, they might result in paying more interest over time. Standard repayment typically costs less in the long run, but the payments are higher.
• Think About Loan Forgiveness: Some income-driven repayment plans offer loan forgiveness after 20 or 25 years of qualifying payments. If you’re considering a career in public service, you might also qualify for Public Service Loan Forgiveness (PSLF).
• Use Online Tools: The Department of Education provides online calculators and resources for estimating monthly payments under different plans. These tools can help you visualize the impact of each plan on your budget.
• Seek Professional Advice: If you’re unsure which plan is best for you, consider speaking with a financial advisor or a student loan counselor. They can provide personalized advice based on your specific situation.

How can students manage their student loan debt effectively?

Managing student loan debt can mean strategies like creating a budget or making payments during school. Here are some practical steps to help you stay on top of your loans:

• Create a Budget: Develop a budget that includes your monthly loan payments. Track your income and expenses to ensure you can meet your financial obligations while covering your basic needs.
• Make Payments During School: If possible, start making small payments on your unsubsidized student loans while still in school. This can reduce the amount of interest that accrues and lower your overall debt.
• Set Up Automatic Payments: Enroll in automatic payments to ensure you never miss a due date. Many lenders offer a small interest rate reduction for automatic payments, saving you money over time.
• Pay More Than the Minimum: Pay more than the minimum monthly payment whenever possible. This will help you pay off your loan faster and reduce the total interest paid over the life of the loan.
• Prioritize High-Interest Loans: If you have multiple loans, focus on paying off the ones with the highest interest rates first. This will help you minimize the overall amount of interest you pay.
• Consider Refinancing: Look into refinancing your loans to secure a lower interest rate. This can be especially beneficial if your credit score has improved since you first took out the loans.
• Use Loan Forgiveness Programs: Explore loan forgiveness programs, especially if you work in public service or other qualifying fields. These programs can significantly reduce your loan balance after a certain period of qualifying payments.
• Stay Informed: Keep up with any changes in federal student loan policies and repayment plans. Knowing your options can help you make informed decisions about managing your debt.

What are the benefits of student loan refinancing and consolidation?

Refinancing allows borrowers to merge multiple loans into a single obligation, potentially securing a lower overall interest rate and more predictable payment terms. Consolidation can simplify repayment by combining various federal or private loans, thereby streamlining budgeting and debt management. Borrowers should evaluate lender offers carefully, as refinancing federal loans with a private entity may forfeit benefits such as income-driven repayment plans or forgiveness programs. For individuals aiming to improve future earning capacity, pursuing further education with one of the most lucrative masters degrees can enhance refinancing eligibility and long-term financial stability.

Can accelerated graduate programs help reduce long-term student loan debt?

Accelerated graduate programs offer a streamlined path to advanced qualifications by condensing coursework into a shorter timeframe. This efficiency can lead to reduced overall tuition costs and lower borrowing needs, as students can enter the workforce sooner with competitive skill sets. Evaluating options such as 6 month degree programs supports a strategic approach to financial planning through minimized accrued interest and debt accumulation.

What are some alternatives to taking out student loans?

Exploring alternatives to taking out student loans, like scholarships and work-study programs, can help reduce your reliance on debt and manage your education costs more effectively. Here are some options to consider:

• Scholarships and Grants: Apply for scholarships and grants. What is a full tuition scholarship? It's a type of financial aid that doesn’t need to be repaid and covers your tuition and fees. Many organizations, schools, and government programs offer these based on merit, need, or specific criteria.
• Work-Study Programs: Participate in federal work-study programs, which provide part-time jobs for undergraduate and graduate students with financial need. These jobs help you earn money to pay for your education expenses.
• Tuition Payment Plans: Some colleges offer payment plans that allow you to pay your tuition in monthly installments instead of one lump sum. This can make managing your finances easier without taking out loans.
• Community College: Consider starting your education at a community college, where tuition is often lower. You can complete your general education requirements and then transfer to a four-year university.
• Employer Tuition Assistance: Look for employers who offer tuition assistance or reimbursement programs. Some companies provide financial support for employees who want to further their education.
• Part-Time Employment: Working part-time while studying can help cover some of your expenses and reduce the need for loans. Balancing work and school can be challenging but can also provide valuable work experience.
• Savings and 529 Plans: Use savings or money from a 529 college savings plan to pay for your education. These plans offer tax advantages and can be a smart way to save for college.
• Military Benefits: Explore education benefits offered by the military, such as the GI Bill, which provides financial support for tuition and other education-related expenses for service members and veterans.
• Online Courses and MOOCs: Consider taking online courses or Massive Open Online Courses (MOOCs) that offer college credits at a lower cost. This can be a more affordable way to complete some of your coursework. Some schools also offer scholarships for online college.
• Living at Home: Living at home while attending a nearby college can save you money on room and board, reducing your overall education costs.

The chart below illustrates the average amount of aid granted to first-time, full-time undergraduate students at 4-year universities.

How might new policies affect subsidized and unsubsidized loans?

New policies on interest rates, loan forgiveness, and repayment plans can significantly impact both subsidized student loans and unsubsidized student loans. Here are some potential effects:

• Interest Rate Changes: Policies that adjust federal interest rates can directly affect the cost of borrowing. Lower interest rates can make both subsidized and unsubsidized loans more affordable, while higher rates can increase the overall cost of your loans.
• Loan Forgiveness Programs: Expansion or modification of loan forgiveness programs can provide relief for borrowers. New policies might make it easier to qualify for loan forgiveness, reducing the long-term burden of student debt.
• Income-Driven Repayment Plans: Changes to income-driven repayment plans can affect monthly payment amounts and repayment duration. New policies might offer more favorable terms, such as lower payment caps or shorter repayment periods, benefiting borrowers of both loan types.
• Borrowing Limits: Adjustments to the borrowing limits for subsidized student loans and unsubsidized student loans can influence how much you can borrow each year. Increased limits can help cover more educational costs but may lead to higher overall debt.
• Eligibility Criteria: Changes in eligibility criteria for subsidized loans could affect who qualifies based on financial need. Stricter criteria might reduce the number of students eligible for subsidized loans, increasing reliance on unsubsidized loans.
• Interest Subsidies: Policies that enhance the interest subsidy benefits for subsidized loans can reduce the financial burden on borrowers by extending the period during which the government pays the interest.
• Loan Caps and Aggregate Limits: Adjustments to the maximum amount students can borrow in their lifetime can impact long-term financial planning. Higher aggregate limits might allow students to cover more costs but could increase debt levels.
• Deferment and Forbearance Policies: Changes to deferment and forbearance policies can influence how borrowers manage periods of financial hardship. More flexible terms can provide temporary relief, helping borrowers avoid default.
• Tax Benefits: New tax policies that provide deductions or credits for student loan interest payments can reduce the overall cost of borrowing, making repayment more manageable for both subsidized and unsubsidized loan holders.
• Public Service Loan Forgiveness (PSLF) Adjustments: Enhancements to PSLF can make it easier for borrowers working in public service to have their loans forgiven. Changes might include more qualifying job categories or a streamlined application process.

Are there viable student loan options for parents with bad credit?

Parents facing credit challenges can access tailored financing through specialized lenders and programs designed to accommodate lower credit scores. Evaluating alternatives such as federal programs, flexible private loans, and customized payment plans is critical for securing sustainable loan conditions. Detailed comparisons of lender offerings, repayment structures, and potential co-signer requirements can uncover viable options. For further insights, review student loans for parents with bad credit to explore available resources and make informed decisions.

Are there specialized loan options for vocational and aviation training?

Specialized programs, including vocational courses and aviation training, often require alternative financing that differs from traditional college funding. Certain lenders offer tailored loan products with flexible criteria and repayment plans designed to meet the unique needs of nontraditional educational paths. Prospective aviation and technical students should evaluate industry-specific financing options that address program duration, tuition variability, and post-training income expectations. For detailed strategies on managing specialized education costs, review our article on how to pay for flight school.

How can federal loan forgiveness and assistance programs support long-term debt management?

Federal loan forgiveness and assistance programs offer alternative strategies to manage long-term debt by reducing principal balances after meeting specific service or income-driven requirements. Borrowers who qualify for options such as Public Service Loan Forgiveness or Teacher Loan Forgiveness can see significant debt reductions without refinancing or altering their existing repayment plans. Evaluating eligibility criteria, maintaining accurate employment records, and consistently complying with qualifying payment schedules are essential steps in leveraging these programs. Additionally, incorporating cost-effective education paths through research on affordable online colleges may further ease debt accumulation by lowering overall tuition expenses.

Can an online master degree 1 year program effectively reduce educational costs?

Accelerated postgraduate programs with condensed curricula can significantly lower total tuition expenses and reduce debt accumulation periods. By completing studies faster, students may enter the workforce sooner, thereby minimizing interest accrual and overall borrowing needs. In addition, these programs often provide flexible scheduling and focused skill development that aligns with contemporary industry demands. Prospective students should compare program costs, accreditation, and career outcomes to ensure that the streamlined approach fulfills both academic and financial objectives. Exploring options like an online master degree 1 year can be a strategic alternative for managing education expenses effectively.

How can students with poor credit access better borrowing options?

Students with poor credit may face challenges in securing private loans, which often rely on credit history or a co-signer. However, federal loans like subsidized and unsubsidized loans do not require credit checks, offering accessible options for those with limited credit history. Exploring scholarships and grants, leveraging state and institutional aid, or seeking employment through work-study programs can also help students minimize borrowing needs.

For those considering private loans, focusing on lenders that cater to borrowers with low credit ratings can be beneficial. Flexible terms, competitive rates, and no co-signer requirements may exist with careful research. Specialized lenders, for instance, often offer small student loans for bad credit to help cover essential educational expenses. Reviews and comparisons of lenders, like the ones available on trusted educational websites, can aid in identifying the most suitable loan options.

Additionally, building or improving credit scores while in school can open up future financial opportunities. Practices such as paying bills on time, managing debt wisely, and maintaining low credit card balances are effective strategies.

How can I qualify for private student loans without a cosigner?

Borrowers without a cosigner should focus on lenders that offer evaluation based on individual credit history, income consistency, and academic performance. These lenders assess application strength through thorough income verification and existing credit records, rather than relying solely on a guarantor. Enhancing your credit profile and providing robust financial documentation can improve eligibility. For lenders offering self-qualified options, explore private student loans without cosigner to compare competitive terms and secure flexible repayment plans.

Could competency based doctorate programs streamline student debt management?

By exploring advanced educational pathways, students can benefit from accelerated degree completion and improved career readiness, both of which can influence borrowing needs and repayment strategies. Embracing models like a competency based doctorate enables tailored learning experiences that focus on mastering industry-relevant skills. This targeted approach may reduce time in school, lower total debt accumulation, and offer a strategic edge when planning for long-term financial stability.

Is choosing affordable colleges a viable strategy to reduce student debt?

Exploring cost-effective education paths can significantly mitigate the need for higher borrowing. Alternative institutions, such as community colleges, online courses, and competency-based programs, offer lower tuition costs and more flexible payment plans. These options help reduce long-term debt accumulation by minimizing overall borrowing requirements. For example, researching options like the cheapest college online can provide pathways to quality education at a reduced cost.

Key Findings

• Subsidized loans do not accrue interest during school, whereas unsubsidized loans immediately accrue interest.
• Subsidized loans offer annual limits from $3,500 to $5,500 for undergraduates, while unsubsidized loans range from $5,500 to $12,500 per year.
• Both subsidized and unsubsidized undergraduate loans carry a 6.53% interest rate for the 2024-2025 academic year.
• Approximately 30.2 million students received subsidized loans in 2024, compared to about 30.7 million who received unsubsidized loans.
• Subsidized loans are awarded based on financial need and are exclusively for undergraduates, while unsubsidized loans are available to undergraduates and graduates regardless of financial need.

Other Things You Should Know About Subsidized vs. Unsubsidized Student Loans

Which student loan is better, subsidized or unsubsidized?

Deciding whether subsidized or unsubsidized student loans are better depends on your financial situation. Subsidized student loans are generally better because they don't accrue interest while you're in school or during deferment periods, saving you money in the long run.

Should I pay my subsidized or unsubsidized loans first?

It's usually best to pay off your unsubsidized loans first because they accrue interest while you're still in school and during deferment periods. By tackling unsubsidized loans first, you can reduce the overall amount of interest you'll pay.

Are there credit score benefits to choosing subsidized over unsubsidized loans?

Choosing subsidized over unsubsidized loans doesn't directly affect your credit score, as both are federal and don't require a credit check. However, subsidized student loans can be easier to manage due to no interest accrual while in school, potentially leading to more timely payments post-graduation. Consistent, on-time payments can positively impact your credit score.

References:

• Federal Student Aid (FSA). (n.d.). Direct Subsidized and Direct Unsubsidized Loans. Loans. FSA.
• Federal Student Aid (FSA). (n.d.). The Federal Perkins Loan Program provided money for college or career school for students with financial need. Perkins Loans. FSA.
• Federal Student Aid (FSA). (2024a). Federal Student Aid Portfolio by Loan Type. Federal Student Loan Portfolio. FSA.
• Federal Student Aid (FSA). (2024b). Servicer Portfolio by Loan Status. Federal Student Loan Portfolio. FSA.
• National Center for Education Statistics (NCES). (2023). Sources of Financial Aid. Postsecondary Education. NCES.
• National Center for Education Statistics (NCES). (2024). Average undergraduate tuition, fees, room, and board charges for full-time students in degree-granting postsecondary institutions, by control and level of institution and state: Academic years 2021-22 and 2022-23. Digest of Education Statistics. NCES.
• Nova, A. (2024). Education Dept. announces highest federal student loan interest rate in more than a decade. Personal Finance. CNBC.