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4 October, 03:29

Which of the following has a 5% interest rate for undergraduates with exceptional financial need?

A. A private loan

B. The Federal Perkins Loan

C. The unsubsidized Direct Stafford Loan

D. The subsidized Direct Stafford Loan

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  1. 4 October, 06:45
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    The correct option is B. The Federal Perkins Loan is a low interest loan which is specifically meant for undergraduate students with exceptional financial needs. The interest rate is fixed at 5%. The school is usually the lender and the loan is made with government money; the money has to be repaid to the school.
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