LANSING - Although it's the dog days of summer, the school year is just over a month away. In some places like Michigan State University, future and current Spartans will come back to school on August 26th. At Lansing Community College, students return on August 21st.

Either way, it's a safe bet to say students are receiving some sort of financial aid to support their efforts to make it through the next year(s) of college.

Many loans are out there, both private and federal such as the federal subsidized and unsubsidized loans. Students and parents should be aware of the different interest accruals.

Lansing Community College's Director of Financial Aid Stephanie Bogard Trapp says, "The federal subsidized loan does not accrue interest (4.66%) while in school....while the federal unsubsidized loan does (4.66%)."