Subsidized or Unsubsidized: What's the Difference?

Here is a quick overview:

A Subsidized Federal Stafford Loan: a loan for any undergraduate or graduate who has a need. The government will pay your interest up to 6 months after you graduate. You must be attending school at least half time.

An Unsubsidized Federal Stafford Loan: a loan for any undergraduate or graduate that does not have a need. The individual will have to pay interest on the loan from the day of conception. You may have the option of deferring the payments until you have graduated or left school. Keep in mind you will owe all of that interest.