Other definitions of the term currency are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves).
Federal aid offers Direct subsidized and unsubsidized loans. The difference between these two loans is that subsidized loans are based on financial need and the interest does not accrue while the student is in college, as the interest is paid by the federal government.
Borrowing Process for Unsubsidized Loans. Unlike Subsidized Direct Student Loans , unsubsidized loans do not require a borrower to have financial need in order to qualify. However, the student must still file the FAFSA in order to apply. The financial aid office will determine eligibility and the amount a student is able to borrow.