Good evening,

I was accepting my Financial Aid Loan for the 2022-2023 year, I needed to accept the loan for my spring semester 2023, but I was concerned with what I saw.

I accepted the deferred loan, to my understanding, I didnt need to pay anything but what I accepted plus the 6% after graduation. So if I took out $1,000 at 6% I'd be paying 60 in interest per year until I pay the principle amount off. I noticed there was a 'loan fee' title with un unspecified number.

Is the loan fee the interest? Or is it charging me for taking out a loan like I think? When I asked the FAFSA counselors on campus I felt like I just needed to pay the loan interest but if there is that loan fee of 6% its like im paying 12% (principal interest 6% fee 6%).

Any feedback is appreciated