Confused about Direct Loan Subsidized, PLZ help?

When you graduate(or drop out, or go below half time), you have a grace period of like, six months, then you have to start paying back the loan. The loan amount that you will owe at that time will still be $3500. You don't accrue interest on it while you are in school. The government pays the bank the interest while you are in school. So even though the interest rate may change, you don't have to worry about it. If you take out unsubsidized loans, then they will accrue interest. When you graduate, you will probably have multiple loans, so you will consolidate them at that time, and get a fixed interest rate at that time. As for who you pay the loan to, they usually have you pick a bank. But there are companies who 'service' the loan for the banks who are financing them. These are really the people and websites you deal with. You can call your school and ask them, or you can just wait until you get the loan statement in the mail. Two major ones are the EAS or SAF. They usually send them out once a semester. But the bank you currently have the loan with will probably sell your loan to another bank, so the bank may change while you are in school. But when you consolidate your loans, you can do it through the Department of Education, so you will pay them, or whatever private bank you might choose.