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Best answer from question by Angel:

Answer by mazda6drvr
Make sure that if you are offered any student loans, accept the Subsidized Loans before accepting the Unsubsidized onces. Subsidized simply put, are loans that are given to you like any loan for which you have to pay interest on, however for the time you are in school, the government makes the interest payments for you on that loan. Therefore, when you graduate, you will not have any interest accrued, or “built up” for you to pay back. You loan repayment and interest payments will only begin after you graduate or drop out. Also, with student loans, you usually have a 6 month grace period after graduation, during which time the interest does not accrue and neither do you have to make any repayments of the loans. Good luck.