Elliot is graduating from college in six months but he will need a loan near mount of 4850 for his last semester he mesa receiving of subsidize stand for a loan with an interest rate of 6.8% compounded monthly or his parents make it a plus loan with an interest rate of 7.8% compounded monthly the Stanford loan has a grace period of six months from the time of graduation which long will have a higher balance and how much how much at the time of payment