Prime Subsidized Loan
Subsidized Loans are loans for undergraduate students with financial needs, as determined by their cost of attendance minus expected family contribution and other financial aid (such as grants or scholarships).
Subsidized Loans are loans for undergraduate students with financial needs, as determined by their cost of attendance minus expected family contribution and other financial aid (such as grants or scholarships).
Last Updated Date: May 16, 2022
Prime Commercial Bank was founded in September 2007 as the 21st commercial bank in Nepal. It has been classified as an 'A' class financial institution under Nepal's Banks and Financial Institutions Act. The primary motto of this Bank is 'Banking Service to All,' with the 389 total promoters holding 70 percent of the bank's stock. The bank has developed itself at the highest level of financial competitiveness, focusing on offering outstanding service to its customers. The bank has emerged as an emerging player in the financial sector, maintaining excellent relationships with respected clients through an emphasis on excellence in customer service.
A subsidized loan is a student loan for undergraduate students who demonstrate financial need. This type of loan doesn't accrue interest the same way other loans do because the government temporarily covers interest costs. Subsidized loans are only available to undergraduate students, while unsubsidized loans are open to undergraduates, graduates and those seeking professional degrees. Subsidized loans require students to demonstrate financial need, while unsubsidized loans do not. Because subsidized loans are intended for students who need greater financial assistance, they come with additional financial perks. With subsidized loans, the federal government pays (or "subsidizes") interest that accrues while the student is enrolled in school at least half time, during the six-month grace period after the student leaves school and during loan deferment. When a lender applies a subsidy to the interest portion of a loan on behalf of the borrower, it's defined as a subsidized loan. The lender generally pays the interest charges on the loan during certain periods.
Subsidized loans come with some great benefits:
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