Benchmark 2: Loans & Interest Block__1 Group_6__

● Share with group members and Mr. Su as “Benchmark 2 Group# Block #”

● List down any resources (websites, links, etc.) that you used to find the information below the table.

Group Member Type of Aid & Maximum Interest Accrual Date for Grace Period
Definition Award Annual Rate Interest

Jose G Work Study: Your $7.25/Hourly N/A N/A N/A

school provides
you with a job in
order to pay off
your college
expenses.

David L Perkins Loan: ​a  $5,500 a year  5% 60 days after 9 months

low interest loan  for  grace period ends
for both  undergrads. 
undergraduate   
and graduate 
students

Alexander P Stafford Loan Student can 4.29% 60 days after 6 Months

A Stafford loan is borrow at least grace period ends
a student loan $5,500 when
offered to eligible the first year is
students enrolled complete the
in accredited student can get
American $7,500
institution of
higher education
to help finance
their education.

Jose G Direct Loan: 3,500 in the 4.45% 6 month after 6 months

Subsidized students first grace period end.
Loans do not year.
accrue interest 4,500 for the
while you are in second year
school at least 5,500 for their
half-time or third, fourth, and
during deferment fifth year(s).
periods.
Subsidized

David L Subsidized 5,500 in the 4.45% No grace period, No grace

Loans do not students first Interest starts right period,
accrue interest year. away. Interest starts
while you are in 6,500 for the right away.
school at least second year
half-time or 7,500 for their
 during deferment third, fourth, and
periods. fifth year(s).

Websites Used
http://www.lsu.edu/

https://studentaid.ed.gov/sa/types/work-study

https://en.wikipedia.org/wiki/Federal_Perkins_Loan